The much-awaited Bitcoin cash-settled monthly futures from Bakkt launched on Dec. 9, recording a volume of 1250 BTC at press time.
This is a sharp contrast to the 72 BTC Bakkt saw traded on its futures debut earlier in September, which means that the company could be taking over a significant part of the market.
The disappointing launch volumes of its futures contracts didn't stop Bakkt from taking over the crypto market.
With its Bitcoin futures volume up more than 6,200 percent since launch, the ICE subsidiary announced the launch of two new markets-Bitcoin options and Bitcoin cash-settled monthly futures.
Announced earlier in November, the cash-settled BTC futures seemed to clash with the company's founding strategy, which was to separate itself from its cash-settled competitors.
The company went on with the launch and the cash-settled monthly BTC futures launched on Dec. 9.
According to Bakkt's official announcement, the new cash-settled futures contracts will be available on ICE Futures Singapore.
The contracts will also be based on Bakkt's bitcoin monthly futures and settle into the underlying futures contract two days before they expire.
Cash-settled BTC futures first day volumes look promising.
According to Bakkt's official website, the cash-settled monthly futures saw a volume of 1250 BTC at 2:30 pm GMT. With a few more hours left before trading closes, the launch day volumes already look promising.
Bakkt's cash-settled BTC futures launch with promising volume
gepubliceerd op Dec 9, 2019
by Cryptoslate | gepubliceerd op Coinage
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