BlackRock’s IBIT options volume surpasses Deribit for the first time; U.S.-compliant funds expect bullish Bitcoin outlook to reach $109k and hold for a longer period.

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According to CoinDesk, data from the crypto volatility protocol Volmex shows that the open interest in the Nasdaq-traded BlackRock spot Bitcoin ETF (IBIT) options last Friday reached $27.61 billion, surpassing the Bitcoin options contracts on the offshore options giant Deribit ($26.9 billion) for the first time. This milestone marks the rapid adoption of compliant crypto derivatives by institutions in the United States.

Analysis indicates that there are differences in the position characteristics of the two: IBIT options exhibit stronger bullish sentiment and a longer-term holding preference, with their call options mainly expecting BTC to rise to around $109,709 (higher than Deribit’s $106,000); additionally, the average expiration date of IBIT options (October 2026) is about two months longer than Deribit’s (August 2026).

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