Coinbase-Owned Deribit to Launch USDC-Settled Linear Options for Bitcoin and Ether
Liquidity Finder - Sam LowCoinbase-owned crypto derivatives exchange Deribit, a Dubai-based institutional-grade platform specialising in options and futures trading, will launch linear options for Bitcoin (BTC) and Ether (ETH) on 19 August 2025. The new contracts will be priced and settled in USDC, alongside new USDC-settled BTC and ETH dated futures, and the existing USDC-settled perpetual futures.
The exchange said the move follows strong institutional and retail demand, and comes just over a year after introducing linear options for altcoins such as SOL and XRP, also settled in USDC. Earlier in 2025, Deribit launched USDC rewards, allowing users to earn passive returns on holdings without staking, lockups or manual action.
“The introduction of linear options for BTC and ETH marks a significant milestone in our mission to offer institutional-grade products tailored to the evolving needs of our clients. By settling in USDC, we're providing greater flexibility, capital efficiency, and a familiar fiat-equivalent structure that appeals to both institutional and retail participants.”
Luuk Strijers, CEO of Deribit
Linear options have payouts that move in direct proportion to the underlying asset’s price, offering transparent exposure to market movements. They are widely used for hedging, speculation, and yield enhancement.
The new BTC and ETH contracts will not affect Deribit’s existing inverse options, which are priced and settled in BTC or ETH. Both product types will be integrated into the platform’s risk engine, enabling margin offsets for improved capital efficiency. The new linear contracts also have smaller minimum order sizes — 0.01 BTC and 0.1 ETH — to increase accessibility.
Deribit says the update supports its aim of expanding flexible, stablecoin-settled derivatives to meet the needs of both retail and institutional traders.
Coinbase acquired Deribit in its largest crypto M&A deal in May 2025, purchasing Deribit for $2.9 billion.
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