PANews reported on September 30th that BlackRock's iShares Bitcoin Trust has surpassed Coinbase's Deribit to become the largest trading venue for Bitcoin options. Following last Friday's contract expiration, open interest in options related to the Nasdaq-listed IBIT reached nearly $38 billion, compared to $32 billion on Deribit. Founded in 2016, Deribit has dominated the Bitcoin options market for years. This highlights a structural shift in the crypto market, from a hub for leveraged derivatives trading to a regulated core of the U.S. financial system. IBIT currently manages $84 billion in assets, making it the world's largest Bitcoin ETF. The rapid growth of its options business is creating a virtuous cycle: increased liquidity enhances its legitimacy, which in turn attracts further capital inflows.