IBIT Surpasses Deribit: Bitcoin Market Moves Fast

BlackRock ’s IBIT surpasses Deribit and has become the world’s largest venue for Bitcoin options. Open interest in options tied to IBIT has climbed to nearly $38 billion, surpassing Deribit’s roughly $32 billion after the latest contract expiry. This is a big moment. It shows money is moving from older, offshore crypto markets toward regulated U.S. products.

A Closer Look at IBIT’s Launch and Options Offering

IBIT began offering less than a year ago, and the product drew fast interest from big investors. BlackRock already runs many ETFs and is trusted by many large institutions.

This addition gave investors an easy, regulated way to trade Bitcoin risk without using offshore exchanges. The fast growth is a clear sign that institutions like the safety and rules that U.S. vehicles bring.

Source : Bloomberg

The success BlackRock has had with its iShare is a component of a larger plan to increase its exposure to Bitcoin. With approximately 1 million shares worth $66.4 million as of July 2025, the company has boosted its BTC investment by 38% in its $17.1 billion Global investment Fund.

Comparing IBIT and Deribit: Open Interest and Market Share

Deribit was the long-time leader in crypto options since 2016. It handled most of the world’s BTC options volume for years. But the latest numbers show IBIT’s linked options now lead in open interest.

That does not mean Deribit disappears; it still has many active traders but iShare now carries more outstanding contracts overall. This swap matters because open interest is a measure of how much capital and risk sit in a market at once.

Why Institutional Investors Prefer Regulated Platforms

Large investors choose regulated places for clearer rules, custody protections, and simpler reporting. Regulated ETFs also fit better into institutional risk and compliance workflows. For many firms, trading on a Nasdaq-listed ETF is easier than managing accounts on offshore derivatives platforms. That practical comfort is pushing flows into onshore venues like BlackRocks’s iShares.

Immediate BTC Market Reaction and Why it Matters

The coin is trading at $114,526 with 2.5% of increment in the past 24hrs. Market cap holds at $2.28T with a gain of 2.5% . The 24hr volume rose massively by 61% stands at $59B which shows the market was already active and slightly bullish when the IBIT news story broke.

Source : Coinmarketcap

When Bloomberg reported that BlackRock’s IBIT had surpassed Deribit as the top Bitcoin options venue, traders reacted quickly. The news coincided with higher trading volume and a short-term uptick in Bitcoin’s price, a common reaction when big institutional flows or this type of news arrives.

That happens because market makers and institutional desks often hedge new option positions by buying or selling spot and futures Bitcoin. In plain terms this big moves can push the cash price up or down as traders balance risk.

This change is part of a wider trend. Since 2024–2025, more capital has flowed to U.S. regulated crypto products. Part of that comes from clearer rules and bigger firms wanting to avoid regulatory or custody risk offshore.

Wall Street tools and ETFs are now shaping how Bitcoin risk is traded. Investors, exchanges, and regulators will watch closely to see if it keeps its lead or if Deribit and other platforms push back with new products.