The first contract for the future of bitcoin of Bakkt was signed this Sunday at 8:02 pm ET.In ten hours, it has negotiated a volume equivalent to 28 bitcoins.As was expected, the supply of futures contracts on bitcoin the platform Bakkt had tried to introduce in the U.s. market since more than a year ago, is already available for investors. The first contract was negotiated on Sunday night. However, after the first few hours, just been traded future for a volume of 28 bitcoins.The first exchange occurred at 8:02 pm ET at a price of USD 10.115, as he commented on the company Bakkt through his Twitter account. At the end of the first seven hours, we had traded a volume of 18 bitcoins, in the following hours, that figure rose close to 40%.
We’re live!The first Bakkt Bitcoin Futures trade was executed at 8:02pm ET at a price of $10,115— Bakkt (@Bakkt) September 23, 2019
According to the company, the data feed will be available for free until June of next year, although according to the information in your faq section it will be necessary to make a subscription. At the time of writing this note are not yet operational graphics that might give you an idea of how many people have been waiting for this product. For now you can only access this chart on the price and trading volume.Given the expectations, the futures trading bitcoin of the platform Bakkt seems to go slow. Source: theice.comLos future of bitcoin backed by Intercontinental Exchange, owner of the New York Stock exchange, had been postponed on two occasions by the regulators in the midst of a great expectation. In the same way, the products of other companies as LedgerX have also been rejected or postponed on several occasions.With the launch is expected to attract a significant number of investors, which according to many analysts represent a pent-up demand, those who could be encouraged to the possibility of negotiating cryptocurrencies on a platform supported by regulators of the united States. For this reason many people in the ecosystem, through Twitter, seem to be disappointed by the relative lack of demand that has been during the first hours of trade.Unlike the products traded in 2017 at the platform of CME Group, these futures contracts of bitcoin will be settled in the physical, which means that people will receive bitcoins at the end of the negotiation.One of the most striking features of this type of futures contracts on Bitcoin of Bakkt is that will be settled on the second business day after the date of the negotiation. This factor contrasts with the other products, that are settled 30 days after the negotiation, although ICE offers futures contracts in gold and silver a day.
For and against
The main cause of the volume of trading may seem insignificant for now, might be related to the fact that the future of Bitcoin of Bakkt not available for retailers, who represent the largest part of the market.Therefore, in the short term, we could not see the realization of the expectations on a greater volume of exchanges, which could affect the price of Bitcoin, which has remained with slight fluctuations around the USD 10,000 over two months.With regard to the demand of contracts, John Stuck, director of research of TradeBlock, said:”we could see commercial volumes decent for the product”, anticipating in a conservative manner at the panorama. “However, I would expect that the demand was something in line with the current contracts cash-settled, as offered by the CME.”While the price of bitcoin fell below $ 10,000 during the weekend, Bakkt continued with their plans, which many commented as being something positive. However, in view of the trading volume of the platform, others commented with irony to a possible lack of interest of investors.
Bakkt is Open and Ready for Business!
Hmm… Where is everybody… 😉 #Bakkt #Bitcoin #crypto #cryptomeme pic.twitter.com/G6XfJfSmFd— Martin and Max King (@Martin_MaxKing) September 23, 2019
In this and other tweets, people say that by now no one is negotiating the future of Bitcoin in Bakkt, so that the waiting lists seem to be empty.