Bitcoin 

Bakkt Plans to Roll Out Cash-Settled Bitcoin Futures Contract

Bitcoin (BTC) futures trading on the Intercontinental Exchange (ICE)’s Bakkt platform will expand to include a cash-settled option, COO Adam White has revealed. Speaking at the Invest: NYC conference on Nov. 12, White reportedly stated that Bakkt “has the intention of offering a cash-settled contract as well” as its existing Bitcoin-settled product.  Customer demand spurring product development According to unnamed sources reportedly familiar with the roadmap, the cash-settled monthly Bitcoin futures will be offered via ICE’s Singapore-based clearinghouse, ICE Clear Singapore, and traded on the ICE Futures Singapore exchange. The…

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Bitcoin 

Bakkt Rolls Out ‘Critical’ Bitcoin Custody After NY Gives Green Light

Institutional Bitcoin (BTC) trading platform Bakkt has announced it has launched its custody feature for its entire client base following regulatory approval. Bakkt: custody is “critical link” in BTC adoption In a blog post on Nov. 11, Bakkt said it had received the go-ahead from the New York Department of Financial Services (NYDFS) to offer custody services to any institution. Previously, the option was only available for those trading its Bitcoin futures. Commenting on the release, Bakkt described the custody tool as “the critical link in the institutional adoption of…

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Bitcoin 

Bakkt Bitcoin Futures Trading Volume Just Hit Another All-Time High

Bitcoin (BTC) futures daily volumes on digital asset platform Bakkt have hit a new all-time high, with 1,741 futures traded on Nov. 9. Bakkt announced the new record, stating:  “Today we set a new daily record of 1,756 Bakkt Bitcoin Futures contracts traded.” Volume spike coincides with Bitcoin price dip Twitter account dedicated to Bakkt futures trading volume data, Bakkt Volume Bot, also pointed out the development on Nov. 8.  Additionally, the daily volume of 1,741 (about $15.5 million) represents a 109% increase over the 834 contracts traded the day…

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Bitcoin 

Bakkt Set to Smash Bitcoin Trading Volume Record in November

Bitcoin (BTC) futures trading on the Intercontinental Exchange Bakkt platform is seeing a considerable rise in average daily volume so far this month compared to September and most of October. Volumes yesterday, Nov. 5, hit close to their all-time-high — with 1061 traded contracts worth $10 million, a 96% increase over the previous day. According to tracking data compiled by Twitter account Bakkt Volume Bot (@BakktBot) — which is not affiliated with Bakkt but rather with a Dutch journalist and crypto author Gert-Jan Lasterie — the platform had posted its…

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Bitcoin 

Bakkt Teases Launch of Consumer Payments App Scheduled for 2020

Cryptocurrency custody and futures trading platform Bakkt has announced its coming entry into mobile payments with a consumer app. Per an Oct. 28 blog post from the company, Bakkt will follow its recent successes in trading Bitcoin (BTC) futures with a consumer app. According to the company, the app will help consumers “unlock the value of digital assets, as well as ways in which they can transact or track them.” Starbucks on board Though the announcement is vague on the specifics of the app’s functionalities, coffee empire Starbucks is the…

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Bitcoin 

Bitcoin Price Skyrockets $500 in Minutes as Bakkt BTC Contracts Hit Highs

Bitcoin (BTC) surged $500 in just five minutes today after experiencing a sharp drop on Oct. 23, from $7,950 to $7,450 and sitting at the position for two consecutive days. Cryptocurrency market daily overview. Source: Coin360 According to the data from Coin360, BTC gained $536 in minutes, skyrocketing from $7,855 to $8,391. At press time Bitcoin is trading at around $8,424, up nearly 13% over the past 24 hours. Bitcoin 24-hour price chart. Source: Coin360 While the reason behind the recent drop is not clear, some community members attribute Bitcoin’s latest surge…

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Bitcoin 

Bakkt Announces First Regulated Options Contract for Bitcoin

Bakkt announced on Oct. 24 that it will be launching the first regulated options contract for bitcoin (BTC) futures on Dec. 9.  According to Bakkt, the key features of the Bakkt Bitcoin Options contract include capital efficiency, cash or physical settlement, European style option, low fees, as well as instant messaging, block trades and options analytics.  The new options product is based on customer feedback, explains CEO Kelly Loeffler and is designed to hedge or gain bitcoin exposure.  Bakkt adds: “ICE Futures U.S. has self-certified the contract with the CFTC…

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Bitcoin 

Bakkt Hits New All-Time High, With Over 450 Bitcoin Futures Contracts Traded

Bitcoin (BTC) futures volumes on digital asset platform Bakkt have hit a new all-time high, with 452 BTC futures contracts traded at press time. Per historical data from Intercontinental Exchange (ICE) — the operator of Bakkt — today the platform has traded 441 Bitcoin futures contracts for November 2019, with the last recorded trading price settling at $7,400 per Bitcoin. 11 futures contracts for December have been sold, with the last recorded trading price at $7,407. Bakkt Bitcoin (USD) monthly futures contract data. Source: ICE Twitter account Bakkt Volume Bot,…

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Bitcoin 

Galaxy Digital and XBTO Execute First Block Trade of Bakkt Bitcoin Futures

Intercontinental Exchange (ICE), the governing body behind the New York Stock Exchange, has executed the first block trade of Bakkt Bitcoin (BTC) futures contracts. ICE revealed the development in an Oct. 4 press release, specifying that the first Bakkt Bitcoin Futures block trade was executed between digital assets merchant bank Galaxy Digital and crypto investment firm XBTO on Oct. 1. The deal was cleared by agricultural commodities merchant ED&F Man. Following the block trade execution, XBTO stated: “Last week, we bought the first Bakkt Bitcoin Daily Futures contract and took…

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Bitcoin 

Bakkt Is ‘Contributing Factor’ to Bitcoin’s Fall

Major cryptocurrency exchange Binance’s newest research supports the theory that the launch of institutional trading platform Bakkt partly caused Bitcoin to drop 20%. In the latest edition of its markets overview, Binance Research, the exchange’s analytics arm, singled out Bakkt as the principal event which occurred just before Bitcoin’s price slip last week. Binance: Bakkt is a “contributing factor” in Bitcoin’s fall As Cointelegraph reported, Bakkt debuted its Bitcoin futures to much fanfare on Sept. 23. Three days later, BTC/USD plummeted from near $10,000 to under $8,000. Commentators were underwhelmed…

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