Stepping into the spotlight with a dramatic debut, BlackRock’s spot Bitcoin ETF, known as IBIT (IBIT), didn’t just walk onto the stage—it sprinted. Launched on November 19, these options have quickly snatched nearly half of the open interest in the seasoned BTC options market at Deribit. Just this Monday, a staggering $11 billion worth of IBIT options were active, showcasing a robust appetite for regulated crypto derivatives in the U.S. market. “The stateside demand for regulated crypto products is real,” observed a spokesperson from Volmex Finance in a note to CoinDesk.
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IBIT Challenges Deribit’s Dominance
Deribit has long been the king of the hill in the BTC options space, but there’s a new player in town. The introduction of U.S.-approved, BlackRock-backed IBIT options has not only diversified the market but also invigorated it. According to Luuk Strijers, CEO of Deribit, “IBIT options have created positive ripple effects for the industry.” Strijers detailed to CoinDesk how this move has opened new doors for U.S. retail investors and introduced fresh arbitrage opportunities that boost risk management strategies for big-time investors.
Demand Focuses on Short-Dated Options
While IBIT options now command an impressive slice of the market, their focus remains on short-dated contracts. This trend shows more and more people are looking for options with lower upfront costs, making it easier for a wider range of investors to jump into the crypto market. As the crypto trading scene changes, the surge in IBIT options sends a clear message: there’s a growing hunger for accessible, regulated investment products. This marks a big shift in how both big investors and everyday people are tackling digital assets.
What Is the Best Bitcoin ETF to Buy?
For investors looking to find the Bitcoin ETFs that best suit their needs, conducting thorough research is crucial. A helpful resource for this is TipRanks’ Compare ETF tool. This tool allows investors to compare various Bitcoin ETFs side-by-side, examining key metrics such as performance history, expense ratios, and assets under management.
