Blackrock’s ishares Bitcoin Trust (IBIT) funds exchanged by the exchange has reached the derivit as the largest place for The options of an indication of how accreditation and institutional capital are reshaping crypto derivatives trading.
Open interest with Ibit contracts hit nearly $ 38 billion after Friday’s expiration, compared to $ 32 billion in the derivit, which has ruled the market since 2016. The flip is less than one year after Ibit options lived live in November.
Ibit, which is the largest place in Bitcoin ETF in the world, with $ 84 billion in properties, has quickly become a magnet for institutional flows. Its growth enhances liquidity and legitimacy, pulling activity into regulated markets that sometimes sit firmly on the coast.
Coinbase’s derivit-bought for $ 2.9 billion in August-Crypto-native-fashioned businessmen. But Ibit’s signal signed a structural transfer of electricity as options once driven by high-leverage areas offshore are increasing
Meanwhile, checkonchain data shows the ratio of Ibit ETF leverage to 45%, close all the time.
The ETF holds 770,000 BTC, while open interest options stand at 340,000 BTC, which means almost half of Ibit’s underlying exposure is a reflection of derivatives. It features the size of the speculation that is tied to the ETF, even though it is debatable if it fully reflects the seizure of the market.
Ibit now costs 45% of BTC global options open interest dominance, reached the derivit at 41.9%, with CME at only 6% and other exchanges that make up the rest.
This concentration suggests that Ibit and deribit together regulate nearly 90% of the BTC options market.
The data suggests two takeaways: Ibit’s growing role in derivatives trading is regulating the market, and CME -like institutional platforms remain small compared to areas driven by ETF and retail.
