[Structural Changes in the Bitcoin Derivatives Market: Options Open Interest Rises to Nearly 60%, Growing Demand for Risk Management] According to CoinDesk, data shows that the share of Bitcoin options in the crypto derivatives market continues to rise. Volmex, the issuer of the Bitcoin Volatility Index (BVIV), stated that last week, Bitcoin options open interest accounted for just under 60% of total Bitcoin derivatives open interest, up from about 50% at the beginning of the year. This reflects a market shift from purely betting on price direction to placing greater emphasis on risk management. As of last Friday, the total open interest in the Bitcoin derivatives market was approximately $129 billion, including around $36 billion in U.S. Bitcoin ETF-related options and $35 billion in BlackRock IBIT options. When factoring in options on native crypto platforms, the Bitcoin options market size is approximately $76 billion.