RATE Group | Bakkt’s Volume Explode Higher as Bitcoin (BTC) Options Launch Nears
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Bakkt’s Volume Explode Higher as Bitcoin (BTC) Options Launch Nears

Bakkt’s Volume Explode Higher as Bitcoin (BTC) Options Launch Nears

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After nearly a year of collective anticipation from around the cryptocurrency community, Bakkt launched its US-regulated Bitcoin futures product on Sept. 23. Unfortunately, the much-hyped financial derivatives did not perform as expected, with the upstart exchange’s market seeing under $1 million worth of volume during the first day’s trading session. (For some perspective, Bitfinex, according to Bitwise’s BitcoinTradeVolume, did $54 million in BTC’s volumes on Dec. 1)

This lull continued into the second week, then the third, then the fourth. As Bakkt has been invested in by the owner of the New York Stock Exchange, Starbucks, Microsoft’s venture arm, and other investors to the tune of $182.5 million, these results were understandably disappointing. 

Though, statistics show that the tides are quickly turning in Bakkt’s favor.

Tides Turn in Bakkt’s Favor

After a slow start, the volume registered by Bakkt started to pick up on week…

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