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.
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.”