Crypto Derivatives Market in 2025: Shift Towards an Institutional Model
The year 2025 marked a turning point for the crypto derivatives market, evolving from retail-driven speculation to an institutional model incorporating ETFs, regulated infrastructure, and on-chain solutions. This shift is significant because institutional capital became the main growth driver, while Bitcoin increasingly behaved as a high-risk asset, resulting in the largest wave of liquidations in October — exceeding $19 billion in a single day. The total trading volume reached $85.7 trillion, indicating market maturation and growth.
Source Сoinglass
This transition signals greater market maturity, but systemic risks remain due to high leverage and liquidity concentration, which could affect stability in 2026. The market remains susceptible to sharp fluctuations and large liquidations, particularly amid Bitcoin’s volatility.
Going forward, the development of regulated infrastructure and the expanding role of institutional players are expected to reduce risks and make the crypto derivatives market more predictable.
