01 · Market read
The day across the three live Derivasys markets.
One-week ATM IV repriced most sharply in Ether, creating a 2.27-point spread over Bitcoin’s smaller increase.
This is a comparison, not a pooled surface: each asset keeps its own forwards, expiries, SVI fit and realised-volatility history.
Cross-sectional thesis
Where the complex is diverging.
One-week ATM IV level dispersion is widening, at +17.86 vol pts; daily one-week ATM IV changes span +2.27 vol pts across the complex.
BTC screens richest and ETH cheapest on one-week implied volatility versus seven-day realised volatility, with a 0.59-point cross-sectional range.
1W ATM IV change
+1.55 points from the group median
1W ATM IV level
-10.12 points from the group median
1W RR25 level
-1.35 points from the group median
Relative-value rankings
Leaders and laggards across the same cutoff.
| Metric | 1st | 2nd | 3rd |
|---|---|---|---|
| 1W ATM IV level | SOL · 54.69 | ETH · 46.95 | BTC · 36.83 |
| Daily 1W ATM IV change | ETH · 4.63 | SOL · 3.08 | BTC · 2.36 |
| 1W IV minus 7d realised | BTC · 0.47 | ETH · -0.12 | SOL · unavailable |
| Most call-rich 1W RR25 | SOL · 3.19 | ETH · 2.55 · up 1 | BTC · 1.20 · down 1 |
| Most put-rich 1W RR25 | BTC · 1.20 · up 1 | ETH · 2.55 · down 1 | SOL · 3.19 |
| 1Y minus 1W curve slope | BTC · unavailable | ETH · unavailable | SOL · unavailable |
| Largest 1Y minus 1W curve change | BTC · unavailable | ETH · unavailable | SOL · unavailable |
| 24h spot performance | ETH · 0.53 | BTC · -0.46 | SOL · unavailable |
Completed-session cross-asset context
Crypto volatility against VIX and SPX.
The benchmark comparison is separately timestamped to the latest completed US session; it does not replace the intraday crypto surface cutoffs above.
BTC and ETH and SOL 30-day implied volatility remained 2.5–3.5 times VIX, while short-window equity correlations remained low.
| Asset | 30d ATM IV | VIX spread | IV / VIX | 20d crypto RV | 20-session SPX RV | RV spread percentile | 30-session correlation |
|---|---|---|---|---|---|---|---|
| BTC | 36.20% | +21.67 vol pts | 2.49× | 50.32% | 8.30% | 87.7 percentile | +0.158 |
| ETH | 49.28% | +34.75 vol pts | 3.39× | 65.32% | 8.30% | 60.4 percentile | +0.029 |
| SOL | 50.73% | +36.20 vol pts | 3.49× | 76.48% | 8.30% | 59.5 percentile | +0.252 |
As of 04 Sept 2026, 20:00 UTC. Crypto RV uses calendar days and sqrt(365); SPX RV uses US sessions and sqrt(252).
03 · Cross-asset scorecard
Implied volatility, realised volatility and skew.
04 · Term structures
ATM implied volatility across common standard tenors.
| Asset | 1W ATM / Δ | 1M ATM / Δ | 3M ATM / Δ | 6M ATM / Δ |
|---|---|---|---|---|
| BTC | 36.83% / +2.36 | 37.42% / +0.53 | 38.88% / +0.01 | 40.13% / -0.07 |
| ETH | 46.95% / +4.63 | 50.81% / +1.30 | 52.45% / +0.61 | 54.25% / -0.02 |
| SOL | 54.69% / +3.08 | 52.90% / +1.28 | 51.91% / +0.28 | Unavailable |
05 · Constituent evidence
Audit the independently published source artifacts.
06 Sept 2026, 16:59 UTC
Read the BTC report06 Sept 2026, 16:59 UTC
Read the ETH report06 Sept 2026, 16:59 UTC
Read the SOL report06 · Methodology and provenance
A derived publication with no duplicated market data.
The report is assembled at request time from the immutable BTC, ETH and SOL daily-report artifacts for the same UTC report date. It is omitted unless all three exist. Cross-asset averages are descriptive and equal-weighted; no attempt is made to combine distinct volatility surfaces into a single fit.