BlackRock Inc.’s iShares Bitcoin Trust (IBIT) has surpassed Coinbase Global Inc.’s Deribit platform to become the world’s largest venue for Bitcoin options.

Open interest in options tied to the Nasdaq-listed IBIT reached nearly $38 billion following Friday’s contract expiry, compared with $32 billion on Deribit, per Bloomberg.

Founded in 2016, Deribit had long been the dominant hub for Bitcoin derivatives. In contrast, IBIT only launched options trading in November 2024, making its rapid ascent all the more striking.

In June of this year, IBIT set a new benchmark in the ETF world, surpassing $70 billion in assets under management (AUM) in just 341 trading days — the…

Read more on BitcoinMagazine