Wall Street is asserting a significant presence in Bitcoin trading via IBIT, managed by BlackRock, which holds approximately 86 billion USD in assets. This maneuver is shifting Bitcoin trading dynamics predominantly to U.S. Markets.
In 2025, the open interest for ETF-linked options rose to 34 billion USD, indicating a booming interest in Bitcoin derivatives. IBIT has become the leading Bitcoin ETF, even though it accounts for just over half of the total assets in this market.
Despite its success, there are challenges like a restrictive limit on IBIT option contracts imposed by the SEC and difficulties in connecting offshore and onshore markets. Greater connectivity remains critical for future growth in U.S. Bitcoin trading.
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