Bakkt Expands Bitcoin Futures with Exciting Cash-Settled Options

The New Frontier of Bitcoin Futures

Big news in the world of Bitcoin futures! Bakkt, the trading platform that’s got everyone buzzing, is taking a giant leap forward. After rolling out its Bitcoin-settled futures in September like a star athlete, Bakkt is now introducing a cash-settled option, a move announced by COO Adam White at the recent Invest: NYC conference.

Why Cash-Settled Options Matter

You might be wondering, why the fuss? Cash-settled contracts allow traders to settle profits in cash instead of physical Bitcoin. Picture it as getting your dessert without having to clean your plate. This option is particularly appealing for those who want to dip their toes in the crypto waters without the hassle of actually holding Bitcoin. According to sources, this cash-settled monthly futures product will be available on ICE Futures Singapore, giving traders unparalleled global access.

Responding to Demand

Market needs are at the heart of this expansion. Bakkt’s decision to roll out cash-settled contracts came about in response to customer desires. It’s like your favorite diner finally adding that extra topping you’ve been begging for. The new product will leverage data from Bakkt’s existing physically-settled contracts—a blend of the old and new, much like classic rock meets pop.

Aiming for a Swift Launch

Sources close to the situation claim ICE is already in talks with Singapore’s Monetary Authority, gearing up to launch these products before 2019 wraps up. With cash-settled options on the horizon, traders have a lot to look forward to—more choices, fewer headaches.

The State of Bitcoin Futures Today

It’s worth noting that Bakkt’s physical settlement contracts were a groundbreaking step toward institutional adoption. Initially, the trading volumes of Bakkt were disappointing, making many question if it could hold a candle to products from CME, which appeared in 2017. Surprisingly, though, business picked up significantly, with 224 contracts exchanged in a single day recently.

The Bigger Picture

The Bitcoin futures landscape is rapidly evolving, with Bakkt pushing the envelope and Binance Futures boasting nearly $882 million in daily trading volume for Bitcoin/Tether perpetual contracts. It’s a wild ride, folks!

Whether you’re a seasoned trader or just crypto-curious, the future of Bitcoin trading appears brighter than ever. Get ready to ride the cash-settled wave!