Coinbase 年底前重启 Pro 并完成 Deribit 整合

Coinbase 整合 Deribit 后，美国机构能直接通过 Prime 交易 300 亿美元的未平仓期权。这个连通性让流动性池更大了。29 亿买下的资产开始产生实际监管下的交易价值，且去年衍生品交易量破万亿，现在渠道打通，市场深度确实有了实质增量。

Coinbase Pro returning later this year looks like a solid structural play for US institutional capital. Linking domestic futures with global liquidity pools via Deribit removes the friction of offshore entities, which should meaningfully improve order book depth. Since CFTC rules now permit this direct access, we are likely seeing a shift toward deeper on-chain futures volume. The single pool model could finally align pricing between regions.

感觉 Coinbase 把 Deribit 这点整合好了，散户以后玩期权应该方便不少。

Deribit liquidity flowing into Coinbase Pro could tighten spreads at the end of year. Watch the opening levels closely.