Traditional asset managers and family offices have resumed allocating to crypto after approximately one year on the sidelines, Deribit Head of APAC Business Lin Chen said. High-net-worth clients are returning primarily through derivatives, particularly options portfolios, rather than direct spot purchases. Chen said single options portfolio trades have reached billions of dollars. An earlier account described individual trades as reaching tens of billions, creating a discrepancy in the reported scale. The options-based approach allows institutions to manage position risk and market exposure as they increase their cryptocurrency allocations.