Intercontinental Exchange’s cryptocurrency venture Bakkt is planning to launch options tied to bitcoin, aiming to forestall CME Group, which previously announced its plans to introduce bitcoin options in Q1 of 2020.
As COIN360 previously reported, Bakkt has launched its much-anticipated product – a ”physically settled monthly futures contract for bitcoin held in the Bakkt Warehouse” in September.
The first days of trading disappointed many stakeholders since the trading volume was significantly lower than the trading volume of CME bitcoin futures that traded $460 million in the first week after launch. Recently Bakkt futures platform also experienced a drastic volume drop from over 200 BTC to just 12 BTC of trading volume per day.
Yesterday, however, the platform registered a new all-time high for trading volume at the level of 224 BTC. At this moment the number of traded contracts is 109 which is more than a 50% drop from yesterday's record.