Deribit Block RFQ Hits $23B in 4 Months
- Deribit sees a surge in institutional trading via Block RFQ.
- The platform executes $23 billion in trades.
- BTC and ETH remain primary assets for these trades.
Deribit, a leading digital asset derivatives exchange, has reported a significant achievement through its Block RFQ tool, facilitating $23 billion in trading volume within the first four months of its introduction.
Deribit’s Block RFQ tool indicates substantial institutional engagement, further reinforcing the platform’s establishment in complex derivatives trading. The immediate traction underscores strong demand for efficient trading solutions among institutions.
Deribit has been pivotal with CEO Luuk Strijers highlighting its focus on offering an efficient and flexible trading platform. The tool supports block trades in BTC and ETH, streamlining execution and enhancing institutional access to liquidity.
“With the launch of Block RFQ, we are providing traders with a more efficient and flexible way to execute large and complex trades. This feature will improve liquidity access and significantly enhance the user experience by streamlining trade execution and reducing latency. By accelerating the speed of trading and expanding the range of our platform offering, we are reinforcing our commitment to innovation and ensuring that our institutional and high-volume traders have the best possible tools at their disposal.” – Luuk Strijers, CEO, Deribit
The rapid uptake of the Block RFQ reflects increased institutional interest in crypto derivatives, with Deribit facilitating options, futures, and spot pairs trades. Institutional demand is likely to grow as these structured products continue to attract attention.
The financial sector sees a boost as cryptocurrencies like BTC and ETH are central in these transactions. The introduction of Block RFQ has focused on improving over-the-counter functionality without affecting on-chain protocols significantly.
Deribit’s market strategy emphasizes technological advancements and user experience, with the rapid volume increase showcasing institutional confidence. Long-term effects on regulatory and industry standards might emerge as institutional trading further develops.
