BlackRock's iShares Bitcoin Trust Overtakes Deribit as Top Derivatives Platform
A significant shift is occurring in the Bitcoin derivatives market. BlackRock's iShares Bitcoin Trust (IBIT) has emerged as the leading platform, overtaking long-time dominant player Deribit. This change reflects a growing preference for regulated, U.S.-based platforms.
IBIT's rapid growth is evident in its open interest figures. It recently reached nearly $38 billion, surpassing Deribit's $32 billion. This milestone was achieved following a recent contract expiry, indicating a substantial increase in trading activity on the platform.
IBIT's rise to prominence began with the launch of its Bitcoin options trading in November 2024. Since then, it has swiftly gained significant market share, demonstrating its appeal to traders. Despite this shift, Deribit continues to maintain popularity among crypto-native traders, highlighting the diversity in the market.
The Bitcoin derivatives market is witnessing a significant shift towards regulated, U.S.-based platforms. BlackRock's iShares Bitcoin Trust (IBIT) has become the largest Bitcoin options venue globally, surpassing Deribit. This development reflects a growing preference for such platforms among traders.
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