Ether options trading volume surpassed that of bitcoin's for the first time on Deribit

Crypto derivatives exchange Deribit experienced an unusual trend for the first time ever on Monday: Its ether (ETH) options trading volume surpassed that of bitcoin's (BTC's).

While the total trading volume for bitcoin options was $879.5 million on Monday, ether's was $1.32 billion, which is 50% more. Options are derivatives contracts that give their holders the right to buy or sell an underlying asset at a stated price within a specified period.

Source: Skew

Deribit said it has no opinion on the flip of the trade. But the likely reason is that ETH has significantly outperformed BTC in price over the past several months.


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ETH's price has gained over 1,400% over the past year, while bitcoin's has gained about 550%.

On a monthly basis, however, BTC options' trading volume on Deribit is four times higher than ETH's. In April, the exchange saw around $33 billion in BTC options trading volume, while around $8 billion in ETH options. Deribit is the largest bitcoin options exchange, having a market share of over 85%, according to The Block's Data Dashboard.

Source: Skew

Bitcoin is currently trading at around $56,000, and ETH is priced at about $3,325, a new all-time high.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.