The scale of BlackRock's Bitcoin ETF options has grown rapidly since its launch, accounting for nearly 50% of Deribit's open interest

According to CoinDesk, BlackRock's Bitcoin spot ETF (IBIT) options have grown rapidly since their launch on November 19, 2024. The current open contracts have reached 2.16 million, with a nominal value of $11 billion, accounting for about 50% of Deribit's Bitcoin options market ($23 billion).

In an interview, Deribit CEO Luuk Strijers stated that IBIT options mainly serve the group of U.S. retail investors who were previously unable to enter Deribit. Not only has it not impacted its business but also brought positive effects to institutional participants by creating new arbitrage opportunities and risk hedging strategies. He added that IBIT option trading is mainly concentrated in short-term contracts, reflecting the market demand for low-premium options.

Cryptocurrency derivatives protocol Volmex Finance pointed out that due to BlackRock's Bitcoin ETF having compliance advantages as a basic asset, IBIT options are attracting U.S. institutional investors and retail investors who prefer regulated markets.