IBIT 選擇權挑戰 Deribit 在加密衍生性商品市場的主導地位

美國證券交易委員會 (SEC) 批准的與貝萊德現貨比特幣 ETF (IBIT) 相關的選擇權於 11 月 19 日推出，迅速在加密衍生性商品市場掀起波瀾。

The U.S. Securities and Exchange Commission (SEC)-approved options tied to BlackRock’s spot Bitcoin ETF (IBIT), which launched on November 19, have quickly made waves in the crypto derivatives market. In less than two months, these options have amassed open interest worth $11 billion, nearly half of the $23 billion held in Deribit’s long-established Bitcoin options market.

美國證券交易委員會 (SEC) 批准的與貝萊德現貨比特幣 ETF (IBIT) 相關的選擇權於 11 月 19 日推出，迅速在加密衍生性商品市場掀起波瀾。在不到兩個月的時間裡，這些選擇權已累積了價值 110 億美元的未平倉合約，幾乎是 Deribit 歷史悠久的比特幣選擇權市場持有的 230 億美元的未平倉合約的一半。

According to data from OptionCharts.io on Monday, there were 2.16 million active IBIT options contracts. This impressive figure highlights the strong demand for regulated crypto derivatives in the U.S. Each IBIT option contract represents 100 shares of BlackRock’s Bitcoin ETF, and its notional value is calculated by multiplying the ETF’s price by the lot size.

根據 OptionCharts.io 週一的數據，活躍的 IBIT 選擇權合約有 216 萬份。這個令人印象深刻的數字凸顯了美國對受監管的加密貨​​幣衍生品的強勁需求。得出的。

On the other hand, Deribit has been a leading force in the global crypto options market for eight years, offering contracts representing one BTC each. While Deribit’s offshore status has historically limited access for U.S.-based investors, IBIT options now provide a regulated alternative, catering to both institutional investors and retail traders in the U.S.

另一方面，Deribit 八年來一直是全球加密貨幣選擇權市場的主導力量，提供每份代表 1 BTC 的合約。雖然 Deribit 的離岸地位歷來限制美國投資者的參與，但 IBIT 選擇權現在提供了受監管的替代方案，同時滿足美國的機構投資者和零售交易者的需求

These IBIT options have introduced a fresh dynamic in the market. According to Volmex Finance, a crypto derivatives protocol, these products not only attract retail investors but also offer new opportunities for institutional players.

這些 IBIT 選項為市場帶來了新的活力。加密貨幣衍生性商品協議 Volmex Finance 表示，這些產品不僅吸引了散戶投資者，也為機構參與者提供了新的機會。

“IBIT options are rapidly gaining traction, challenging Deribit’s longstanding dominance. This growth reflects increasing interest from U.S. traders who previously lacked access to regulated crypto options,” commented Volmex.

「IBIT 選擇權正在迅速獲得關注，挑戰了 Deribit 的長期主導地位。這種成長反映出美國交易者的興趣日益濃厚，他們之前無法獲得受監管的加密貨​​幣選擇權。

Despite the rise of IBIT options, Deribit’s Chief Executive Officer, Luuk Strijers, sees this development as ultimately beneficial for the broader crypto derivatives market.

儘管 IBIT 選擇權興起，但 Deribit 執行長 Luuk Strijers 認為這項發展最終有利於更廣泛的加密衍生性商品市場。

“IBIT options cater primarily to U.S. retail investors—a segment historically excluded from Deribit’s platform. Their activation has not negatively impacted our market activity. Instead, they’ve introduced arbitrage opportunities and improved institutional risk management,” noted Strijers, adding that Deribit continues to serve as a global hub for risk and volatility management.

「IBIT 選擇權主要面向美國散戶投資者——這群人歷來被排除在 Deribit 平台之外。它們的活化並未對我們的市場活動產生負面影響。相反，他們引入了套利機會並改進了機構風險管理。

Crypto options, like their traditional market counterparts, allow traders to hedge against or speculate on price movements, volatility, and the passage of time. With BlackRock’s spot Bitcoin ETF as the underlying asset, IBIT options have made these strategies accessible to a wider audience, particularly those who prioritize regulatory compliance.

與傳統市場選擇權一樣，加密貨幣選擇權允許交易者對沖或推測價格變動、波動性和時間的流逝。以貝萊德的現貨比特幣 ETF 作為標的資產，IBIT 選擇權使這些策略可供更廣泛的受眾使用，特別是那些優先考慮監管合規的受眾。