Isabella García
Crypto derivatives giant Deribit, now officially part of Coinbase, is preparing to introduce linear Bitcoin (BTC) and Ethereum (ETH) options settled in USDC starting August 19. This launch marks a significant expansion of Deribit’s stablecoin-settled product lineup, catering to both institutional and retail traders seeking reduced volatility in settlement currency.
Deribit confirmed that alongside the linear BTC and ETH options, it will also roll out USDC-settled dated futures for both cryptocurrencies. These products will complement the platform’s existing USDC perpetual futures, giving traders more flexibility in choosing contracts that suit their strategies.
The exchange’s move follows the success of its 2023 launch of linear altcoin options for tokens like Solana (SOL), Polygon (MATIC), XRP, and Paxos Gold (PAXG) — although Polygon’s option offering was later removed.
Why Linear Options Matter
Unlike inverse contracts that settle in BTC or ETH, linear options pay out directly based on the asset’s price in a stablecoin, making profit calculations straightforward and reducing exposure to crypto price swings. Importantly, inverse and linear contracts will coexist, and margin requirements between the two will be offset, boosting capital efficiency for active traders.
To make the market more accessible, Deribit has set lower minimum order sizes — just 0.01 BTC and 0.1 ETH — for the new contracts.
Coinbase’s $2.9 Billion Acquisition Boosts Deribit’s Reach
In May 2025, Coinbase finalized a $2.9 billion deal to acquire Deribit, consisting of $700 million in cash and 11 million shares of Coinbase Class A stock. The acquisition officially closed last week, bringing Deribit under the umbrella of the Nasdaq-listed exchange and strengthening its position in the competitive crypto derivatives market.
