BlackRock's IBIT options holdings surpass Deribit for the first time, accelerating the institutionalization of Bitcoin

Odaily News The open interest (OI) of options on BlackRock's spot Bitcoin ETF, IBIT, surged to $27.61 billion on Friday, surpassing the $26.9 billion in Bitcoin options on the crypto derivatives platform Deribit for the first time.

According to Volmex data, the long call positions in IBIT primarily bet on the price of Bitcoin rising to $109,709 in the short term, approximately 41% higher than the current level of around $77,400. Meanwhile, the Deribit market mainly expects Bitcoin to rise to about $106,000. Additionally, the average time to expiration for IBIT options is about two months longer than those on Deribit, indicating that investors in the regulated U.S. market prefer long-term holdings and exhibit stronger bullish sentiment. This further highlights the accelerating trend of institutionalization in the Bitcoin market. (CoinDesk)