Record $14.5 Billion Crypto Options Set to Expire

A record $14.5 billion in crypto options set to expire on August 30, 2025, marks the largest delivery volume for the year, impacting BTC and ETH significantly. Gate Research highlights that BTC options total $11.4 billion, with a maximum pain point of $116,000.

$14.5 billion in cryptocurrency options will expire on August 30, 2025, marking the year’s largest delivery volume impact on Bitcoin and Ethereum markets.

The substantial expiry of crypto options highlights significant options market dynamics, potentially increasing short-term volatility for Bitcoin and Ethereum amid their respective market conditions.

Detailed Analysis

Gate Research reports that a record $14.5 billion in cryptocurrency options, including $11.4 billion in BTC and $3.16 billion in ETH, expires this Friday. This event stands as the largest delivery volume in 2025.

“The upcoming expiry marks the largest delivery volume for the year, significantly impacting Bitcoin and Ethereum,” stated Gate Research Analyst from Gate Research.

The options expiry primarily impacts Bitcoin (BTC) and Ethereum (ETH), with some effects on major tokens like SOL, XRP, and ADA on platforms such as Gate.io. Lack of comments from leading exchange executives is noted.

Immediate Effects

Immediate effects include heightened market volatility, driven by hedge unwinding and potential price suppression. BTC demonstrates bearish sentiment, while ETH evinces some optimistic trends, supported by ETF inflows.

Market Expectations

Financial data reveal a contrast in BTC’s bearish position with a 1.6 put/call ratio, while ETH shows a lower ratio of 0.7, signaling different market expectations. Expiry events create transient impacts.

Historically, such large-scale expiries lead to temporary volatility spikes and profit/loss realization. These can influence market behavior around the time of expiry, reflecting broader market dynamics.