According to @Andre_Dragosch, citing a chart by FalconX's @dlawant, IBIT options open interest has surpassed Deribit BTC options open interest, indicating Bitcoin options activity is migrating toward traditional finance venues; source: X post by @Andre_Dragosch on Oct 6, 2025, citing FalconX/@dlawant. The source states the center of gravity is shifting to TradFi venues, underscoring that US-listed ETF options are taking a larger share of BTC risk transfer; source: @Andre_Dragosch quoting FalconX's @dlawant on X. For trading decisions, the reported OI leadership suggests liquidity concentration on IBIT options versus offshore venues, a factor traders can use when selecting execution venues and gauging flow distribution; source: characterization by @Andre_Dragosch citing FalconX/@dlawant on X.