BlackRock's spot Bitcoin ETF options, traded on Nasdaq, have reached an open interest of $27.61 billion, surpassing the $26.9 billion held by offshore options giant Deribit, according to Volmex data. This milestone highlights the rapid institutional adoption of U.S.-compliant crypto derivatives. The IBIT options exhibit a more bullish sentiment and a preference for longer-term holdings, with call options anticipating Bitcoin prices around $109,709, compared to Deribit's $106,000. Additionally, the average expiration date for IBIT options is October 2026, two months longer than Deribit's August 2026.