Coinbase Completes Acquisition of Deribit, Elevating Its Position in the Crypto Derivatives Market
Coinbase has successfully sealed the deal on acquiring Deribit, the top global platform for crypto options exchange, marking a significant leap in enlarging its derivatives trading offerings.
“This achievement is a pivotal advancement in our quest to develop the ultimate, reliable crypto derivatives trading platform globally,” the company announced.
“We’ve just finalized the most substantial transaction in the history of cryptocurrency,” stated Emilie Choi, President and COO of Coinbase.
“Integrating their expertise is crucial for us to establish the ‘everything exchange,’ enabling us to provide top-tier derivatives products worldwide,” Brian Armstrong, CEO, elaborated.
The Surge of Crypto Derivatives
By volume and open interest, Deribit stands out as the premier global crypto options exchange, as per Coinbase’s reports. The platform currently boasts about $60 billion in open interest across all contracts, with more than $1 trillion traded over the last year.
Open interest refers to the total number or value of derivatives contracts that remain open or unsettled. Amid an institutional uptick in crypto derivatives, Deribit also recorded an unprecedented $185 billion in trading volume in July.
The total Bitcoin futures open interest is estimated to be around $83 billion, with the CME and Binance leading the market. The acquisition, valued at $2.9 billion and announced in May, enriches Coinbase’s derivatives product spectrum, including spot, futures, perpetuals, and options trading.
Coinbase anticipates that Deribit will bring in approximately $10 million in extra expenses for technology, development, and general administrative costs. This year, the firm has expanded its portfolio by acquiring five companies, including Spindle, Roam, and Liquifi, as it ambitiously strives to become the ‘everything exchange.’
In a strategic move, Deribit embraced BlackRock’s USD Institutional Digital Fund (BUIDL) as collateral in June, offering investors a stable and profitable alternative.
Coinbase’s Stock Performance This Week
Despite the groundbreaking announcement, Coinbase shares were unaffected as the market had already anticipated the news. COIN’s stock remained steady, closing at around $325 after hours but has seen a 4% increase over the past week, buoyed by Bitcoin reaching a new all-time high.
This year, the stock has enjoyed a 31% gain since the start of 2025 and a 65% surge from the same period last year. COIN reached a peak of $420 on July 18, coinciding with BTC’s first climb above $120,000.
