IBIT Options Reach 2.16 Million Contracts, Representing $11 Billion Notional Value
The U.S. demand for regulated crypto products is increasing, highlighted by the launch of BlackRock's spot bitcoin ETF options (IBIT) on Nov. 19.
- IBIT options have reached 2.16 million open contracts with a notional value of $11 billion.
- This represents 50% of the $23 billion in open BTC options on Deribit.
- Options allow buyers to purchase or sell assets at predetermined prices, with call options for buying and put options for selling.
- IBIT options are attracting both institutional and retail investors in the U.S., filling a gap left by offshore exchanges like Deribit.
- Deribit's CEO noted that IBIT options have created positive effects in the market, introducing new arbitrage opportunities.
- Activity in IBIT options is mainly focused on short-dated options, reflecting demand for lower premium options.