TechFlow news, January 14 — According to CoinDesk, BlackRock’s spot Bitcoin ETF (IBIT) options have grown rapidly since their launch on November 19, 2024. The open interest has reached 2.16 million contracts, with a notional value of $11 billion, accounting for approximately 50% of Deribit's Bitcoin options market ($23 billion).
Luuk Strijers, CEO of Deribit, said in an interview that IBIT options primarily serve U.S. retail investors who previously had no access to Deribit. Rather than negatively impacting its business, the introduction of IBIT options has created new arbitrage opportunities and risk hedging strategies, benefiting institutional participants. He added that trading in IBIT options is concentrated in short-dated contracts, reflecting market demand for low-premium options.
Crypto derivatives protocol Volmex Finance noted that due to BlackRock's Bitcoin ETF having compliance advantages as an underlying asset, IBIT options are attracting both U.S. institutional investors and retail investors who prefer regulated markets.
