Bitcoin Options: Deribit Exchange Sees Record Open Interest of $1B

Bitcoin’s option market continues to grow, signaling an increased influx of sophisticated traders and institutions into the crypto space.

Open interest (or open positions) in options listed on the Panama-based Deribit exchange jumped to a record high of $1 billion Tuesday, according to the data provided by the crypto derivatives research firm Skew. Each option contract on Deribit represents one bitcoin. On Tuesday, 101,000 options contracts were open on Deribit, the world’s largest exchange by options trading volume.

“The new record is driven by market sentiment, an increased number of diverse global participants on Deribit and the efforts made by our various partners and us to provide a premier quality market at all times with the highest capital efficiency, integrity and connectivity and trading solution,” said Luuk Strijers, Deribit’s chief compliance officer.

Options trading activity on the exchange has surged this year, as evidenced by a year-to-date gain of 270% in open…