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BlackRock's Bitcoin ETF breaks records, surpassing Deribit as the largest BTC options exchange

3th October 2025

BlackRock's iShares Bitcoin Trust (IBIT) spot ETF is breaking new ground by surpassing Deribit as the largest Bitcoin options exchange, signaling a new era for BTC trading.

IBIT, managed by BlackRock, has become the main player in the Bitcoin options market, with open interest reaching 38.000 million, according to data reported by Bloomberg.

With this figure, IBIT surpasses the 32.000 billion euros of Deribit, the offshore platform that for years held the lead in this market sector.

According to the report, this shift reflects a clear shift in the institutionalization of the cryptocurrency market, which is accelerating and shifting its focus from traditional decentralized exchanges to regulated products offered by global financial players.

Buy Bitcoin now and take advantage of the ETF momentum

The growing popularity of IBIT, approved by the SEC in early 2024, responds to the demand from institutional investors seeking exposure to Bitcoin through secure vehicles that avoid risks associated with direct custody and offshore platforms. Currently, this ETF reaches $90.000 billion in assets under management, which consolidates BlackRock's position as a financial giant capable of significantly influencing the development and regulation of this emerging market.

The Bitcoin Options Market's Transition to Wall Street

Deribit, since its founding, has become the preferred marketplace for Bitcoin options trading, characterized by its offshore nature and permissive regulatory model. However, competition from BlackRock with its IBIT ETF demonstrates how large funds and institutional players are opting to instruments created under clear regulatory frameworks and backed by globally recognized companies. The preference for these types of products is reshaping the crypto ecosystem toward an environment that prioritizes transparency, security, and integration with traditional financial markets.

The IBIT offers investors the opportunity to participate in the Bitcoin market without the logistical and technological challenges of direct custody of digital assets. Furthermore, in a scenario where crypto market volatility can lead to massive capital outflows, the ETF's structure has proven to be more resilient, promoting stability and increasing the confidence of institutional participants.

BlackRock leads with its ETF: buy BTC with confidence here

This for Growth accelerated confirms that Bitcoin ETFs are now fundamental components within institutional investment portfolios, marking a shift towards the full acceptance of Bitcoin as a mainstream financial asset, not just a niche cryptocurrency.

The era of regulated ETFs and the entry of financial giants

The era of regulated ETFs has marked a before and after in the global financial landscape, and the entry of giants like BlackRock into the Bitcoin exchange-traded fund market underscores this profound transformation. The inclusion of Bitcoin in these regulated instruments has opened the door to a new era of institutionalization and legitimization of cryptocurrencies, providing traditional investors with secure and controlled access to this digital asset.

In this context, IBIT, the Bitcoin ETF launched by BlackRock, has emerged as the undisputed leader in the sector. Its robust structure and transparent strategy have attracted a significant amount of capital, consolidating its position as the preferred vehicle for those seeking exposure to Bitcoin without the risks and complexities of directly managing cryptocurrencies.

IBIT has not only facilitated the entry of large investors, but has also served as a model for new products seeking to replicate its success under current regulations.

***BlackRock's iShares Bitcoin Trust (IBIT).***
***Source: Soso Value***

The revolution that Bitcoin represents in the world of ETFs lies in the convergence of technological innovation and financial regulation. This phenomenon is transforming finance, promoting greater diversification in investment portfolios, and expanding the possibilities for digital assets to become an essential part of institutional portfolios.