Bakkt Plans to Launch Bitcoin (BTC) Futures Options in December
The Bakkt Bitcoin Options contract will be based on the benchmark Bakkt Monthly Bitcoin Futures contract and represents another important step in developing this asset class for institutional investors https://t.co/4ZE0LIBJJP
— Bakkt (@Bakkt) October 24, 2019
According to the announcement, the Bakkt Bitcoin options contract will be based on the benchmark Bakkt Monthly Bitcoin Futures contract and is designed to allow investors to hedge or gain Bitcoin exposure.
Bakkt notes the Bitcoin options will be capital efficient, offer cash or physical settlement, and feature block trades, analytics and attractive fees.
This news comes a day after Bakkt saw its highest trading volume day since its launch around a month ago. According to data from market research firm Skew, Bakkt had $4.5 million in trading volume on Wednesday, which represents a five-fold increase over the average.
Seems like a record day for Bakkt yesterday!
Traded $4.5mln approx ~5x the average daily volume pic.twitter.com/ts2hClA6w4
— skew (@skewdotcom) October 24, 2019
Despite the news, Bitcoin is down on the day and remains below $7,500 as bulls have failed to support a meaningful recovery.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.