Yesterday, the long-awaited Bitcoin Futures went from Bakkt settled in cash at the Start. The product is reached in the shortest amount of time, a volume of 1,250 BTC.
The number stands in sharp contrast to the 72 BTC that were traded at the Futures debut in early September. This means that The company could take over a significant part of the market.
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Bakkt has launched two new markets
To not take on the disappointing volumes for the market introduction of the Futures contracts prevented Bakkt the crypto-market. With a since the establishment of more than 6,200-percent increase in the Bitcoin Futures volume, the ICE subsidiary, announced the introduction of two new markets: Bitcoin Options and Bitcoin-month Futures contract with cash settlement.
To collide with the already announced in November, cash settled BTC Futures rails with the founding strategy of the company. The is to separate itself from its cash settled competitors. Nevertheless, the company continued the launch of its monthly BTC Futures with cash settlement.
How Bakkt is officially known, will be the new Futures contracts with cash settlement on ICE Futures Singapore available. The regulated market is to enable customers in Asia and abroad, to acquire safely and efficiently Bitcoin or hedge.
Contracts will use the price of the physically settled monthly Futures of Bakkt, the company said.
Bakkts Bitcoin Options the first CFTC regulated Option on futures contracts for Bitcoin. The contracts will also be based on the monthly Bitcoin Futures of Bakkt and two days prior to the expiration of the underlying Futures contract are included.
BTC Futures cash-settled – on the first day promising
Bakkt-COO Adam White:
“These new contracts represent an important milestone in the development of this new asset class and of our Bitcoin-product complex.”
White’s statement is in line with the aggressive acquisition strategy of the company, which will probably overtake the Chicago Mercantile Exchange (CME). Last month White announced that the New York-based company has opened his Custody solution for all of the institutions that you want to store Bitcoin.
According to the official Bakkt Website, the monthly Futures reached a cash settlement at 14:30 GMT, a volume of 1,250 BTC. On the introductory day, the volumes look more than promising.
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