Bakkt officially tested Bitcoin futures, BTC price decreased by 5%

Bakkt – the Bitcoin futures trading platform owned by the Intercontinental Exchange (ICE), has noted a less convincing performance for the newly launched BTC options.

Last week (from January 20 to 24), Bakkt witnessed zero trading volume, according to data Available on ICE website. The last trading day for options is January 17 – when only 20 lots are traded.

However, according to data from Skew, Bakkt options have not had any transactions in the last 10 days. The reason for this difference is because Skew has put the weekends on the chart; A more accurate way would be to look at the trading date.

Source: Skew
Source: Skew

Bakkt's rival CME Group, on the other hand, continues to see strong interest in its Bitcoin options. CME traded a total of 59 lots last week – while Bakkt was 0, according to data from the CME official website.

“Strong” interest

An ICE spokesman told The Block that Bakkt continues to see “strong” interest in both Bitcoin options and future products.

“We continue to see strong interest from our growing customer base on the future combination and option of Bitcoin, which offers a wide range of options for interacting and preventing positions in digital assets, ”the spokesman said.

Bakkt launched Bitcoin options on December 9, while CME Group launched its product on January 13. That same day, CME surpassed Bakkt in terms of trading volume at $ 2.19 million compared to $ 1.15 million, as Toiyeubitcoin reported earlier this month.

Tim McCourt – CEO of CME Group, revealed at the time that he was satisfied with the first trading day and the response from market participants was “excellent”.

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According to The Block
Translated by ToiYeuBitcoin

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