BlackRock's IBIT options holdings surpass Deribit, accelerating the institutionalization of Bitcoin.

CoinFeed reported on April 26 that data shows BlackRock's Bitcoin ETF (IBIT) options open interest reached $27.61 billion, surpassing Deribit's $26.9 billion for the first time. IBIT, launched only two years ago, has quickly caught up with a nearly decade-old offshore platform, demonstrating the accelerated adoption of compliant crypto derivatives in the US. IBIT focuses on compliant US stock channels, primarily offering long-term contracts, reflecting stronger bullish market expectations; Deribit, on the other hand, caters more to global professional traders, with a greater emphasis on short-term tactical positions. Institutional and retail investors are using IBIT's compliant options for hedging and leverage, coupled with macroeconomic uncertainties stimulating hedging demand, continuously driving up market size. Industry insiders believe that compliant US crypto infrastructure has reached parity with offshore markets, attracting more Wall Street funds and accelerating the mainstreaming of Bitcoin and the formation of a mature pricing system.