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Daily trading volumes for options and futures crypto derivatives have surged in the past week, hitting record highs on a number of exchanges.&nbsp;
Crypto derivatives exchange Deribit said in a Feb. 29 X <a href="https://twitter.com/DeribitExchange/status/1763248502941872291" target="_blank" rel="noopener nofollow">post</a> that its 24-hour trading volume hit an all-time high of $12.4 billion on the day.
It added open interest (OI) — the number of derivatives contracts that have yet to be closed or settled on the platform — had passed $29 billion, another all-time high. Deribit’s client assets reached $4 billion, it said.
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 Deribit trading volume post. Source <a href="https://twitter.com/DeribitExchange/status/1763248502941872291" target="_blank" rel="noopener nofollow">Deribit/X</a>
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On March 1, Coinbase Institutional <a href="https://twitter.com/CoinbaseInsto/status/1763342323776135452" target="_blank" rel="noopener nofollow">said</a> its United States-regulated futures exchange had its second-best-ever day of $380 million notional volume traded in Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) and Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) contracts across a record 850 unique end-users on Feb. 29. 
The Greeks Live professional options trader’s tooling platform also <a href="https://twitter.com/GreeksLive/status/1763180351483195738" target="_blank" rel="noopener nofollow">reported</a> a historic 24-hour high options trading volume of $620 million.
On March 1, Greeks Live <a href="https://twitter.com/GreeksLive/status/1763409297181126833" target="_blank" rel="noopener nofollow">noted</a> that U.S. spot Bitcoin exchange-traded funds (ETFs) were driving the spot bull market, which <a href="https://cointelegraph.com/news/bitcoin-price-holds-above-62k-as-etfs-see-record-volumes">saw record volumes</a> this week as Bitcoin’s price hit as high as $64,000.
However, options volume positions are rising modestly, it said. It added that “solid inflows are making for a very healthy market structure.” 
Related: <a href="https://cointelegraph.com/news/bitcoin-rallies-2-year-high-derivatives-traders-not-betting-further-gains">Bitcoin rallies to 2-year high, but derivatives traders not betting on further gains</a>
Every week on Friday is crypto options expiry day, and Deribit <a href="https://metrics.deribit.com/options/BTC" target="_blank" rel="noopener nofollow">reported</a> there are around 32,000 BTC options with a notional value of $1.9 billion set to expire on March 1. 
In addition, around 235,000 ETH options contracts are also expiring with a notional value of $793 million. 
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 Bitcoin options OI by strike price. Source: Deribit
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Spot Bitcoin ETFs also <a href="https://cointelegraph.com/news/bitcoin-etf-even-bigger-wave-next-few-months-bitwise">had a solid week</a>, with several recording <a href="https://cointelegraph.com/news/nine-spot-bitcoin-etfs-see-2b-volume-two-days-straight">trading volume days of over $2 billion</a>.
However, a near <a href="https://cointelegraph.com/news/bitcoin-price-correction-grayscale-gbtc-etf-outflows-hit-600m">$600 million outflow</a> from Grayscale’s ETF on Feb. 29 saw the net inflow for all 10 ETFs drop to $93.8 million — the lowest level since Feb. 6, <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener nofollow">according</a> to preliminary data from Farside Investors. 
Net inflows to BlackRock’s Bitcoin fund on Feb. 29 hit $604 million, exceeding Grayscale’s net outflows and netting more inflows for the day than all the other ETFs combined.
Big Questions: <a href="https://cointelegraph.com/magazine/big-questions-can-bitcoin-payments-make-a-comeback/">How can Bitcoin payments stage a comeback?</a>

Crypto derivatives’ daily trading volumes reach record highs

Cointelegraph

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