BlackRock’s IBIT Surpasses Deribit as Top Bitcoin Options Venue

BlackRock Inc.’s iShares Bitcoin Trust has overtaken Coinbase Global Inc.’s Deribit platform as the largest venue for Bitcoin options, underscoring how the center of gravity in digital-asset markets is shifting from offshore platforms to Wall Street.

Open interest in options tied to the Nasdaq-listed IBIT stood at nearly $38 billion compared with $32 billion on Deribit, after Friday’s expiry of the contracts. Deribit, which was founded in 2016, had dominated Bitcoin options for years. The milestone comes less than a year after options opened on IBIT in November.

Bloomberg, Deribit

The ascent highlights a structural transformation in crypto, away from leverage-driven ...