Crypto Options Approach Half of Bitcoin Derivatives Market as Bybit Captures 28% of Tracked Volume, Glassnode Report Finds

BitcoinWorld Crypto Options Approach Half of Bitcoin Derivatives Market as Bybit Captures 28% of Tracked Volume, Glassnode Report Finds New Glassnode x Bybit research highlights structural shift toward options, with Bybit leading tracked Ether options for 143 consecutive days and tokenized gold perpetuals for 476 days DUBAI, UAE, Sept.

18, 2026 /PRNewswire/ — Crypto derivatives markets are becoming more sophisticated as options take on a larger role in how traders manage and price risk, according to a new report from digital assets data provider Glassnode, produced in partnership with Bybit.

The State of Crypto Derivatives identifies a structural shift in the crypto-native Bitcoin derivatives market, with options increasing their share of notional open interest from roughly 25% to nearly 50% over the period studied.

At the same time, dated futures have increasingly given way to perpetuals, reshaping how market participants gain and manage exposure.