IBIT Options Dominate Bitcoin ETF Hedging Market
IBIT options are taking over the Bitcoin ETF hedging market.
The notional value of IBIT options open interest hit $27.6 billion in April 2026, surpassing Deribit's $26.9 billion and accounting for 75% to 80% of total Bitcoin spot ETF options trading volume.
IBIT's dominance is evident in its massive daily trading volume, averaging between $2.7 billion and $3.0 billion, compared to FBTC which has a put bid-ask spread of $0.45.
IBIT's market capitalization reached $86,243,795,200 by September 2025, with an average daily volume of 44,590,758 shares.