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cryptonews 2025-09-30 04:40:14

BlackRock’s IBIT Takes No. 1 Spot From Deribit In Bitcoin Options

BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken Deribit as the leading venue for Bitcoin options, a milestone that reflects Wall Street’s growing role in crypto markets. Open interest in options linked to IBIT stood at nearly $38b after Friday’s expiry, compared with $32b on Deribit, according to Bloomberg . The shift comes less than a year after IBIT options launched in Nov. 2024. Deribit, founded in 2016 and long the dominant offshore hub, had until now controlled the market. This development marks a structural change in the way traders access Bitcoin. Previously, offshore leverage-focused exchanges dominated, but now liquidity is increasingly flowing toward regulated products at the heart of US financial markets. According to Bloomberg, BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed Coinbase’s Deribit platform to become the largest venue for Bitcoin options trading. Following last Friday’s contract expirations, open interest in options tied to the Nasdaq-listed IBIT reached nearly… — Wu Blockchain (@WuBlockchain) September 30, 2025 ETF Liquidity Cycle Accelerates As Institutional Demand Deepens Market Participation IBIT has become the world’s largest Bitcoin exchange-traded fund with more than $87b in assets under management . Its rapid expansion has created a reinforcing cycle. Rising liquidity draws institutional flows, which in turn fuels deeper market participation. Deribit remains popular among crypto-native traders. The platform was acquired by Coinbase in August for about $2.9b, reflecting its continued value. Still, the loss of its leadership in options signals how quickly traditional finance has seized ground in Bitcoin markets. Launched by BlackRock in Jan. 2024 , IBIT was designed to give investors direct Bitcoin exposure without the hurdles of custody or wallets. Coinbase Prime manages custody for the ETF, with reporting structures tailored for mainstream investors. IBIT $70B Milestone Shows Unprecedented Investor Demand The fund’s cost structure has also played a role. With a 0.25% expense ratio, temporarily lowered to 0.12% for early inflows, IBIT quickly became the fastest-growing ETF in history. It reached $70b in assets in just 341 trading days. Market analysts say this growth has reshaped the ecosystem. Offshore venues still attract speculative activity, but regulated products now anchor the bulk of institutional interest. The split could create two parallel systems, one rooted in traditional finance and another in decentralized trading. The rise of IBIT’s options market has added another layer to its influence. For treasurers and asset managers, the ability to hedge exposure through a regulated venue is proving a powerful draw. By comparison, Deribit’s dominance had been built on high-risk leverage and global traders seeking less oversight. Its appeal remains strong, but its grip is weakening as more capital gravitates toward US-listed structures. The post BlackRock’s IBIT Takes No. 1 Spot From Deribit In Bitcoin Options appeared first on Cryptonews .

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