This surge in trading activity is largely attributed to the launch of spot ETFs and options linked to those ETFs in the U.S., which has attracted greater institutional involvement.

Luuk Strijers, Deribit's Chief Commercial Officer, emphasized that the increase in trading activity was significantly driven by this institutional optimism.

December 2024 marked a resurgence in trading volumes across exchanges, influenced by the launch of Bitcoin and Ethereum ETFs and the popularity of memecoins.

Amid rising Bitcoin prices, Deribit's open interest reached an all-time high of approximately $48 billion on November 28, 2024.

Options trading played a significant role in this growth, accounting for $743 billion of the total volume, which represented a 99% year-on-year increase.

The exchange's notional options trading volume for the fourth quarter alone reached $243 billion, reflecting a 99% growth.

Since launching Bitcoin options in 2016, Deribit has established itself as the leading crypto options exchange.

In 2024, Deribit experienced a remarkable increase in trading volumes, soaring from $608 billion in 2023 to over $1.1 trillion, marking a year-over-year growth of over 95%.

Additionally, Deribit reported a significant rise in spot trading, which grew by 810% after its launch in 2023, with total spot turnover reaching $7.6 billion in 2024.

On November 12, 2024, Deribit recorded its highest trading volume day, achieving a 24-hour rolling volume of $14.8 billion following the election of pro-crypto President Donald Trump.

Institutional investor optimism, particularly surrounding the U.S. presidential election and a Bitcoin bull run nearing $100,000, further fueled trading activity, especially in the fourth quarter of 2024.

To enhance regulatory compliance, Deribit has adopted the FATF's Travel Rule and obtained a license from the Virtual Assets Regulatory Authority in Dubai, while also seeking derivatives licenses in France and Brazil.