<p>The bitcoin derivatives market, or futures and options, is growing faster than the spot market, according to research conducted by The Block’s Larry Cermak.<br /> <br /> The <a href="https://www.theblockresearch.com/a-brief-look-at-the-growth-of-the-derivatives-67384">trend</a>, which is common in traditional financial markets such as forex, suggests that the crypto space is increasingly getting institutionalized.<br /> <br /> Last month, both bitcoin futures and options hit yearly highs. The former saw volumes of $558 billion, while the latter saw $3.1 billion worth of trades. The legitimate spot volume, which excludes fake volumes, was about $106 billion in May.<br /> <br /> The ratio between spot and futures volumes has increased to over 5 from less than 2.3 a year ago, indicating that futures volume is growing faster as compared to spot volume.<br /> <br /> <img src="https://cdn-images-1.medium.com/max/1600/1*IC71aeOBlxtGbPtk1RimgQ.png" /><br /> Cermak expects the bitcoin derivatives market to continue outpacing the spot market.<br /> <br /> To read the <a href="https://www.theblockresearch.com/a-brief-look-at-the-growth-of-the-derivatives-67384">full report</a> and more such data-driven stories, subscribe to <a href="https://www.theblockcrypto.com/genesis">The Block Research</a>.</p>