Deribit controls 49.3% of the total crypto options market and 55.3% of Bitcoin options, with traded volume reaching $1.875 trillion in 2025. The platform dominates combined BTC and ETH options with an 85% market share. The June 2026 quarterly settlement exceeded $10 billion in notional value, with approximately $9.06 billion in BTC options and $1.57 billion in ETH options. Bybit has captured 38% of Ethereum options volume by offering USDT-settled contracts rather than physically settled ones. This growth signals genuine competition emerging in the Ethereum options segment.
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