Bakkt is launching a cash-settled option
Recently A. White made an announcement that Bakkt is launching a cash-settled option for BTC futures trading. It is a huge event in the field and there are a lot of reasons why. Adam White pointed out several times during the speech on the 12th of November, that Bakkt was about to start providing the users a cash-settled contract in connection with its BTC-related product
Bakkt is launching a cash-settled option for the clients
Newly announced BTC futures will be offered over ICE Clear Singapore that is hardly a surprise. This information was provided by certain unnamed sources which state they have valid information regarding the so-called upcoming roadmap. Surely the exchange will be accessible worldwide but only for the futures traders signed up to ICE. Not an unexpected, but hardly pleasant news.
According to the sources mentioned above, the estimate launch date is settled somewhere in the second half of 2019, not later. They also claim that ICE have certain negotiations with the Monetary Authority of Singapore. This institution in fact carries the central bank’s functions so it is a promising event on its own and has huge impact on the whole crypto concept. This project that will be launched as a response to the users’ demands.
Why the contracts are much-anticipated?
Bakkt was the first to settle the contract in BTC physically and the contracts went live in September. Two months passed but the community market this innovation as hugely expected. The reason is, as a lot of users pointed out, that this contract looks much alike a huge first step in the direction of the institutional acceptance of the coin, giving full control of the asset for traders.
In spite of anticipation, the amounts are unfavorable in comparison to the similar BTC futures on CME which are also connected to fiat in a way. This product was launched almost two years ago. Nevertheless, the Bakkt’s volumes increased and 224 Bakkt BTC monthly contracts were traded just yesterday. Good figures, aren’t they?