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Open Interest on Deribit Exchange has Exceeded $300M

Exchanges like BitMEX or Deribit are still more attractive for market participants than the regulated Bakkt.

Su Zhu, CEO of Three Arrows Capital noted that Bakkt reliance on clearing brokers while lacking an option to margin trades. The cost of operations on Bakkt is ten times more expensive than on BitMEX or Deribit. Retail doesnt want to pay both execution fees and broker fees to trade a contract.

Deribit exchange Bitcoin (BTC) options also recorded the highest ever monthly turnover with over $1.5 billion options traded over the first month of 2020.