BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund has overtaken Deribit as the largest venue for bitcoin (BTC) options in an indication of how accreditation and institutional capital is reshaping crypto derivatives trading. Open interest in IBIT contracts hit nearly $38 billion after Friday’s expiry, versus $32 billion on Deribit, which had dominated the market since 2016. The flip comes less than a year after IBIT options went live in November. IBIT, already the world’s largest spot bitcoin ...