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Bakkt Trades 72 Futures Contract on First Day

Bakkt Trades 72 Futures Contract on First Day

Bakkt, the bitcoin derivatives trading platform, has completed its first full day of trading. The firm saw 71 monthly futures contract and 1 daily futures contract traded through its platform—approximately $711K in notional trading value.

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Bakkt exited from stealth-mode in August 2018,  promising to offer bitcoin futures contracts that are physically-settled, unlike competing platforms like CME which are cash-settled.

In an interview with CNN’s Julia Chatterley on Monday, Adam White, COO of Bakkt, says “Bakkt is really designed for the institutional trader. So this is a futures contract. That said, we expect this futures contract to trade through retail brokerages as well, so retail customers can trade this contract.”

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