In a major shift within the crypto derivatives space, BlackRock’s Bitcoin ETF has officially surpassed Deribit as the top venue for Bitcoin options trading, according to Bloomberg. This milestone highlights the accelerating institutionalization of crypto, as traditional finance giants gain market share once held by native platforms.
BlackRock, the world’s largest asset manager, launched its iShares Bitcoin Trust (IBIT) earlier this year. Since then, it has quickly become one of the most significant players in Bitcoin exposure for regulated markets.
Deribit Overtaken by Wall Street Titan
Deribit has long been considered the go-to platform for Bitcoin options among crypto-native traders. Its deep liquidity, 24/7 trading, and user-friendly interface made it the leading options exchange for years. However, the rise of regulated products in the U.S. and increased institutional demand have begun to change that dynamic.
BlackRock’s ETF now offers Bitcoin options contracts that are regulated, transparent, and accessible to institutions, giving it a key edge as traditional investors seek safer exposure to crypto derivatives.
JUST IN: BlackRock’s Bitcoin ETF Surpasses Deribit as Top Bitcoin Options Venue. – Bloomberg pic.twitter.com/BZtchW3kiz
— Bitcoin Archive (@BTC_Archive) September 29, 2025
What This Means for the Crypto Market
This development could be a turning point in crypto finance, where large asset managers begin to dominate not just spot ETFs but also complex derivatives markets. The success of BlackRock’s ETF in overtaking Deribit signals a new era where regulated products outcompete decentralized platforms—at least in volume.
It also reflects the growing trust in Bitcoin as a mainstream asset class, with major financial players not just holding BTC but actively participating in options strategies that were once reserved for seasoned crypto traders.