TechFlow News, April 26: According to CoinDesk, the open interest (OI) of BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, surged to $27.61 billion, briefly surpassing Deribit’s Bitcoin options market OI of $26.9 billion—a milestone analysts say signals accelerating institutionalization of the U.S. Bitcoin market.
Separately, Volmex data shows that IBIT call options’ open interest suggests market participants primarily expect Bitcoin’s price to rise to $109,709—approximately 41% above its current market price of $77,400. Additionally, IBIT options’ average time to expiration is roughly two months longer than Deribit’s, indicating stronger bullish sentiment and a preference for longer-term holdings.
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