BlackRock’s Bitcoin ETF Options Surpass Deribit After 17-Month Launch
BlackRock's Bitcoin ETF options open interest reached a record high 17 months after launch, surpassing 10-year rival Deribit and coinciding with a nine-day inflow streak totaling billions weekly. BlackRock's steady quarterly dividends further bolster its appeal to income investors alongside rising ETF fee revenues.
1. Record Open Interest Milestone
After 17 months on market, BlackRock’s Bitcoin ETF options open interest exceeded Deribit’s, marking the first time the US-based IBIT product outstripped the decade-old offshore platform. This achievement underscores growing institutional demand for regulated spot Bitcoin exposure.
2. Inflow Streak and Weekly Volumes
The ETF logged a nine-day streak of net inflows averaging billions of dollars per week, reflecting sustained investor confidence and appetite for crypto assets in a compliant framework. These flows highlight the product’s rapid adoption curve.
3. Cash-and-Carry Yield Strategy
Market participants appear to employ cash-and-carry trades—buying the ETF, shorting futures in contango and earning the yield differential—which boosts both spot purchases and option activity. This strategy may explain the ETF’s persistent inflows and record open interest.
4. Dividend Stock Appeal
Parallel to its crypto business, BlackRock’s consistent quarterly dividends maintain its status among top income stocks. Steady payouts combined with rising ETF fee revenues position the firm attractively for yield-focused investors.