Bitcoin Futures Update: Bakkt Testing, CME Breaks Records, and a $100K Call Option 

 

Over the last few months, the interest surrounding cryptocurrency derivatives products has been growing fast. For some time now, open interest in CME’s bitcoin futures has been breaking records. Bakkt’s futures platform began testing contracts on Monday and the company says there are participants from all around the world. Elsewhere, bitcoin derivatives provider Ledgerx is listing a huge $100K call option with a December 2020 expiry.

On July 22, the Intercontinental Exchange’s (ICE) long-awaited cryptocurrency futures trading subsidiary Bakkt began testing its futures contracts. “Today kicks off user acceptance testing ICE markets for the Bakkt Bitcoin daily and monthly futures contracts. Testing is proceeding as planned with participants from around the world,” Bakkt tweeted on Monday. The parent company of the New York Stock Exchange, ICE announced the BTC futures offering about a year ago, but Bakkt’s physically-settled bitcoin futures was delayed. In order to provide the new derivatives products, Bakkt partnered with the ICE futures exchange so the service can provide clearing infrastructure for physical delivered bitcoin futures contracts to market participants. “Participants will undergo applicable AML/KYC reviews, consistent with CFTC-regulated markets and connect via ICE’s existing infrastructure,” Bakkt’s website explains.

 

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