The size of this market is huge. Deribit held more than $30 billion in Bitcoin options open interest at the end of September, and it processed more than $1 trillion in trading volume last year. Coinbase says derivatives account for roughly 80% of all global crypto trading volume, yet US traders have historically had no simple regulated path into the deepest options and perpetual futures markets.
Until now, US institutions that wanted this access usually needed offshore entities, separate accounts and fragmented trading systems. Now they can use Coinbase Prime, the same platform they already use for spot trading, custody, financing and staking. Coinbase International Exchange balances and positions were moved to Deribit on October 1 as part of the switch.
The rollout will happen in stages. Institutional onboarding is already open, options through Coinbase Prime are expected in the coming weeks, eligible traders outside the US should get options access in a similar period, and US retail access is planned for later this year. Deribit-powered options, spot margin and unified portfolios are also on the way.
For traders, this matters because deeper, regulated derivatives liquidity in the US could bring more institutional money into Bitcoin options and perpetuals, and could pull volume back from offshore venues. The next thing to watch is how fast big US clients actually start trading through the new single liquidity pool.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Cointelegraph, TradingView, FX News Group
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