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Open interest in BlackRock's IBIT options tops Deribit, underscoring faster institutional adoption of Bitcoin

BlackRock's spot Bitcoin ETF, IBIT, briefly saw options open interest reach $27.61 billion, exceeding Deribit's Bitcoin options market size of $26.9 billion for the first time, CoinDesk reported. Analysts say the crossover signals a quickening pace of institutionalization in the U.S. Bitcoin market. Volmex data show positioning in IBIT call options implies traders are largely targeting a Bitcoin move to $109,709, about 41% above the current price of $77,400. IBIT options also carry an average maturity roughly two months longer than Deribit's, pointing to stronger bullish conviction and a tilt toward longer-term exposure.
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