BlackRock Bitcoin ETF Options Open Interest Surpasses Deribit in Market Milestone
BlackRock’s iShares Bitcoin Trust (IBIT) is a U.S. spot Bitcoin ETF whose options allow institutional investors to hedge or take leveraged positions in a regulated market. Its open interest has surpassed that of Deribit, the offshore platform that has long dominated crypto options trading, signaling a shift in market activity toward the U.S. traditional financial system.
As of Friday, July 17, 2026, open interest in IBIT options totaled $27.61 billion, formally surpassing Deribit and marking a major milestone for the U.S.-regulated Bitcoin options market. The figures show institutional capital is increasingly using ETF derivatives to trade Bitcoin and manage risk.
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The history behind this eventMystery Hong Kong Investor in BlackRock Bitcoin ETF Emerges With $436 Million Stake
BlackRock’s iShares Bitcoin Trust (IBIT) is a U.S.-listed spot bitcoin ETF that provides institutional investors with a regulated investment vehicle. Laurore Ltd.’s disclosure of a large, concentrated position using a Hong Kong address prompted scrutiny of the source of its funds and highlighted the liquidity appeal of U.S. ETFs to major Asian investors.
Laurore filed a Form 13F with the U.S. Securities and Exchange Commission on January 28, 2026, disclosing that it held about 8.79 million IBIT shares worth $436 million as of December 31, 2025. A spokesperson said on February 23 that the position reflected a personal investment conviction. Hong Kong records also pointed to Zhang Hui, a director holding a mainland Chinese passport, but the ultimate beneficial owner remained undisclosed.
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