Digital asset derivatives exchange Deribit options unpositioned squaring contracts hit a record high on Thursday, with bitcoin and ether contracts reaching $37.60 billion and the total platform unpositioned squaring contracts reaching $40.80 billion. Luuk Strijers, chief executive of Deribit, said: "The record high volume not only reflects higher prices, but also indicates an increase in the overall adoption of options in the cryptocurrency derivatives space. Institutional and retail investors are increasingly turning to cryptocurrency options as they are attracted to the liquidity, strong hedging mechanisms and precise risk management strategies offered by this instrument class." Strijers said he expects non-position squaring contracts to continue to grow as institutional engagement deepens, which will add stability and maturity to the crypto derivatives space.