The encrypted trading platform, Bakkt announced yesterday that it will launch a regulated bitcoin(BTC) options contract on December 9. On the previous day, the monthly trading contract of the Bakkt exchange just set a daily trading volume record
The post said:
“Starting December 9, Bakkt will launch its first regulated bitcoin futures options contract. We are committed to bringing trust and usability to digital assets, and options contracts are one of many products we develop for regulated markets. The Bakkt Bitcoin options contract will be based on the Bakkt monthly Bitcoin futures contract, which means we have taken another important step in developing this asset class for institutional investors, customers and investors. ”
Bakkt believes that its bitcoin options contract is characterized by high capital efficiency, cash or physical settlement, low cost, large circulation, high liquidity, instant messaging systems, access to large trading opportunities, and options analysis tools.
“Since the launch of Bakkt Bitcoin futures a month ago, we have been working closely with market participants to build liquidity and increase market transparency. It is noteworthy that yesterday we saw a record of 590 Bakkt Bitcoin monthly futures trading. Also, we have completed a milestone that enables seamless physical delivery of daily and monthly Bitcoin futures contracts.” Bakkt CEO Kelly Loeffler mentioned.
Although Bakkt’s trading volume reached nearly $5 million on Wednesday, this amount is slightly insignificant compared to the volume of several big crypto exchanges. FTX statistics showed that as of 9:33 am on October 25, the 24-hour volume of derivatives trading on OKEx reached $1.954 billion, and BitMEX also had $1.624 billion. At the same time, according to CoinDesk, Bakkt will also launch a market maker program to enhance the liquidity of bitcoin monthly contracts.