Bakkt Bitcoin Futures Traded Only $ 5.2 Million In First Week

Bakkt Bitcoin Futures Traded Only $ 5.2 Million In First Week

Trading Volume for Bakkt’s Bitcoin Futures Hit Just $5 Million in First Week

In the first week on the Bakkt platform, only 623 transactions with deliverable bitcoin futures were made.

Since each contract corresponds to one bitcoin, at the current price level for BTC of $ 8,360, during this time the trading volume was only about $ 5.2 million..

For comparison, on CME, Bakkt’s only competitor, only in On Friday, there were 4,099 trades involving bitcoin futures contracts, each worth five coins. In total, this is approximately $ 165 million per day..

After launch on September 23 trading platform on Bakkt traded on average less than 5 daily bitcoin futures.

Bakkt Bitcoin Futures Traded Only $ 5.2 Million In First Week

These indicators are low for the institutional market., to which the management of the company is aiming. Although experts argue that large investors take time to transition from one site to another, if this is not facilitated by clear economic benefits or risks. According to Alexey Kiriyenko, managing partner of the investment company EXANTE, the results will be indicative only in a quarter..

Assessing Bakkt’s first results, ICE spokesman Damon Leavell said that given the lowest spreads in the market for deliverable futures that expired in October, the current result is a real achievement..

Bakkt Bitcoin Futures Traded Only $ 5.2 Million In First Week

text: Ivan Malichenko, photo: iStock