- Bakkt cash-settled BTC futures have launched on ICE Singapore Exchange.
- The cash-settled BTC futures get an impressive start compared to Bakkt’s physically settled futures.
Bakkt, the first platform to launch physically settled Bitcoin futures has launched additional options. The new options will see users tap into the cash-settled Bitcoin futures. The launch on December 9 was received well with the exchange recording an impressive 1250 BTC in volume. This considered a massive improvement from the 72 BTC posted during the first day of the physically settled BTC futures contract.
Bakkt joins Chicago Mercantile Exchange, CME Group in the futures options. CME has been a key player in the options market for quite some time. Investors hope that the new wave of the competition will stir the growth of the market and bring new innovations.
The cash-settled BTC futures on by Bakkt will be available for trading on ICE Futures Singapore. The exchange is regulated and will give users in Asian and the entire world access to the product. According to Bakkt COO, Adam White:
“These new contracts represent an important milestone in the development of this emerging asset class and our bitcoin product complex.”