IBIT Options Overtake Deribit as Institutional BTC Derivatives Open Interest Hits $27.61B
BlackRock’s spot Bitcoin ETF, IBIT, is rapidly scaling U.S.-regulated crypto derivatives. Per CoinDesk data cited by PANews, IBIT options open interest rose to $27.61B on Friday, marking the first time it surpassed Deribit’s $26.90B. IBIT has been live for about two years, while Deribit has operated for nearly a decade.
The article links the shift to product structure and compliant market access. IBIT options are routed through U.S. equity-compliant channels and skew toward longer-dated contracts, aligning with comparatively stronger bullish positioning. Deribit, by contrast, is more oriented to global professional traders and tends to show more shorter-term tactical positioning.
For traders, the bigger IBIT options market can improve institutional hedging and risk management via regulated instruments, which may also increase activity during macro uncertainty. Overall, the report suggests U.S. crypto options infrastructure is catching up to offshore venues, potentially strengthening Bitcoin’s mainstream pricing and market depth.
Bullish
这则消息显示IBIT options在美国监管框架下实现了关键的规模跃升，并首次超过Deribit未平仓合约规模。对比特币自身而言，更多受监管的期权流动性通常意味着更完善的风险管理工具供给（对冲、杠杆配置的合规路径更清晰），在短期可能推升期权成交与参与度，提升市场“有效定价”的速度与深度；长期来看，若这种基础设施差距持续缩小，可能吸引更多华尔街资金参与，从而对BTC的流动性与主流定价形成正向支撑。由于文章核心是“基础设施与结构性规模提升”，而非直接给出负面供需冲击，因此对BTC的价格影响偏向利多。