Sandisk Surges to Top of Crypto Derivatives Market with $1.73 Billion Open Interest

A flash-memory chipmaker has become the hottest name in perpetual futures trading. Sandisk stock perpetuals have pulled ahead of every other equity-linked contract tracked across crypto exchanges, with open interest hitting $1.73 billion as of August 17.

This is the largest position size ever recorded for a single stock perpetual on crypto trading venues. The figure marks a significant shift in how traders are treating semiconductor and memory-chip exposure.

The surge in SNDK perpetual activity sits behind a familiar cast of Wall Street liquidity providers, including Susquehanna (SIG), IMC, and Citadel Securities. These firms provide liquidity on the listed-options side of Sandisk shares, and their presence highlights how tightly traditional options infrastructure and crypto derivatives now sit side by side.

Jane Street's 5.0% stake in Sandisk is another notable factor driving interest in the stock. The firm beneficially owned 7.4094 million Sandisk shares as of July 30, according to a Schedule 13G filed on August 5.