BAKKT TRADES 71 BITCOIN FUTURES CONTRACTS IN FIRST 24 HOURS

The cryptocurrency world watched with bated breath as Intercontinental Exchange's (ICE) Bakkt platform officially launched its Bitcoin futures trading on September 22nd. 21. Do I need a clearing member relationship to trade the Bakkt Bitcoin Futures and Options contracts? Yes. All trading participants require a futures commission merchant (FCM) that is a clearing member of ICUS to trade and clear the Bakkt Bitcoin Futures and Options contracts. bakkt.comAfter years of anticipation, regulatory hurdles, and meticulous preparation, the platform's debut was a significant moment for institutional investment in the digital asset space. Timor Invest Bakkt has traded 71 Bitcoin futures contracts in the first 24 hours followingThe initial trading volume, however, told a nuanced story. Intercontinental Exchange s (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launch on Sept. 22. According to ICE historical data on Bakkt sIn its first 24 hours, Bakkt recorded 71 Bitcoin (BTC) futures contracts traded.While this figure was relatively modest compared to some expectations, it marked the beginning of a new chapter for Bitcoin derivatives and provided valuable insights into institutional appetite for physically-settled Bitcoin futures.This article delves into the details of Bakkt's launch, explores the factors influencing the initial trading volume, examines the platform's features, and considers its potential impact on the broader cryptocurrency market. After spending more than a year ensuring full compliance with US authorities' regulations, Bakkt went live on September 23. In the first 24 hours, the platform traded a total of 71 bitcoin futures contracts. Since the launch, the platform's trading is mainly a monthly contract, and its performance is disappointing.We will also address some frequently asked questions regarding trading on Bakkt and the significance of physically-settled futures. The firm saw 71 monthly futures contract and 1 daily futures contract traded through its platform approximately $711K in notional trading value.The post Bakkt sees 72 bitcoin futures contractsJoin us as we unpack the complexities of this groundbreaking platform and its role in the evolution of Bitcoin investment.

The Bakkt Launch: A Moment Years in the Making

Bakkt's arrival was not a spontaneous event.It was the culmination of over two years of dedicated work by the Intercontinental Exchange (ICE) to create a regulated and secure platform for institutional investors to access Bitcoin.The journey involved navigating complex regulatory landscapes, ensuring full compliance with US authorities, and developing a robust infrastructure to handle the unique challenges of cryptocurrency trading.

The significance of Bakkt lies in its offering of physically-settled Bitcoin futures. Intercontinental Exchange s (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launch on Sept. 22. According to ICE historical data on Bakkt s Bitcoin/USD futures contract trading, the platform has traded 71 BTC at press time, with the last recorded trading price settling at $9,875 perUnlike cash-settled futures, which are more common, physically-settled futures require Bakkt to deliver actual Bitcoin to the buyer upon contract expiration. 1. What contract will be listed for trading on ICE Futures Singapore (IFSG)? The first contract that IFSG will launch is the Bakkt Bitcoin (USD) Cash Settled Monthly Futures contract. 2. How is the futures contract regulated? The Bakkt Bitcoin (USD) Cash Settled Monthly Futures will be exchange-traded on IFSG and cleared byThis feature is designed to attract institutional investors who prefer holding real Bitcoin rather than merely speculating on its price.The physical settlement also aims to improve price discovery and reduce the potential for market manipulation.

First 24 Hours: A Closer Look at the Trading Volume

As mentioned, the first 24 hours of trading on Bakkt saw 71 Bitcoin futures contracts change hands. 洲际交易所（ICE）的Bakkt平台自9月22日推出以来的前24小时内已交易了71个比特币（BTC）期货合约。 Bakkt平台自9月22日推出Of these, the vast majority were monthly futures contracts, with a smaller number of daily futures contracts traded. After two years of work and over a year of regulatory delays, Bakkt opened its bitcoin futures market on September 22nd. On the first 24 hours of trading, ICE s Bakkt platform traded 71 monthly Bitcoin futures contracts, with the last one settled at $9,875 per Bitcoin, and 2 daily Bitcoin Future settled at $9,790.The last recorded trading price settled at $9,875 per Bitcoin for the monthly contract and $9,790 for the daily future.This translates to a notional trading value of approximately $711,000.

While some in the cryptocurrency community initially expressed disappointment with the low trading volume, it's crucial to consider the context. However, the start for the company was a bit dim, as in the first 24 hours of the launch, only 71 contracts were traded on the platform. The pattern. Though the daily trading of Bakkt s contracts was below $1 million for most of the days, the volume spiked on October 23 amid the sudden drop of Bitcoin s value to below $7,500.Bakkt was targeting institutional investors, who typically take a more cautious and deliberate approach to entering new markets. As per the recent news in the 24 hrs of its launch an Intercontinental exchange (ICE) bakkt has achieved to trade 71 Bitcoin(BTC) futures contracts on 22nd September.Check Bakkt Trading VolumeAs per the ICE historical data on Bakkt s Trade and surpriThe regulated nature of Bakkt also meant that potential traders needed to establish clearing member relationships with Futures Commission Merchants (FCMs) before being able to participate, which could have contributed to the slower initial uptake.

Analyzing the Trading Data: Key Observations

• Dominance of Monthly Contracts: The fact that the majority of trades were in monthly contracts suggests that investors were primarily interested in longer-term positions in Bitcoin, rather than short-term speculation.
• Price Settlement: The settlement prices of around $9,800 per Bitcoin provided a snapshot of market sentiment at the time and indicated a degree of stability in the Bitcoin market, despite the initial volatility that often accompanies new product launches.
• Gradual Growth: Although the initial numbers were modest, it's important to note that trading volume on Bakkt gradually increased over time, particularly during periods of Bitcoin price volatility.

Why the Relatively Slow Start? MINIMUM BLOCK TRADE SIZE 10 contracts SETTLEMENT Calculated by reference to the equivalent IFUS Bakkt Bitcoin (USD) Monthly Futures contract TRADING HOURS 8:00 a.m. to 6:00 a.m. Singapore time, Monday to Friday PRE-OPEN 7:55am Singapore time TRADING AND CLEARING FEES Screen trades: $1.25/contract. EFP Block Trades: $1.85/contractFactors at Play

Several factors could explain the relatively modest trading volume in Bakkt's first 24 hours. Bakkt, the cryptocurrency trading platform owned by Intercontinental Exchange (ICE), has traded 71 bitcoin futures contracts since the launch of this investment instrument. The launch of Bakkt's physically-settled bitcoin futures took placeThese include:

• Institutional Caution: Institutional investors are generally more risk-averse than retail traders and prefer to thoroughly assess new platforms and products before committing significant capital.
• Regulatory Requirements: The need for clearing member relationships with FCMs created a barrier to entry for some potential traders.
• Market Conditions: The prevailing market conditions at the time of the launch may have influenced investor sentiment and trading activity.
• Product Awareness: It takes time for institutional investors to become fully aware of a new product and understand its potential benefits.

Bakkt's Features and Trading Mechanics

Understanding the Contract Specifications

To fully grasp the trading activity on Bakkt, it's essential to understand the specifications of the Bitcoin futures contracts offered on the platform.These include:

• Contract Size: Each contract represents one Bitcoin.
• Settlement Type: Physically-settled, meaning that actual Bitcoin is delivered upon contract expiration.
• Minimum Block Trade Size: 10 contracts.
• Trading Hours: 8:00 a.m. to 6:00 a.m. In the first 24 hours, the Bakkt platform traded 71 Bitcoin futures contracts. Bakkt failed to impress on the first day of trading purportedly due to the fact that the currency s price had beenSingapore time, Monday to Friday.
• Pre-Open: 7:55am Singapore time.
• Trading and Clearing Fees: Vary depending on the type of trade (screen trades or EFP Block Trades).

The Role of Intercontinental Exchange (ICE)

The Intercontinental Exchange (ICE), the parent company of Bakkt and the governing body behind the New York Stock Exchange, plays a crucial role in ensuring the integrity and security of the platform. Bakkt Trades 71 Bitcoin Futures Contracts in First 24 Hours Intercontinental Exchange s (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launchICE provides the infrastructure, regulatory oversight, and clearing services necessary for the trading of Bitcoin futures contracts.

Bakkt's Impact on the Cryptocurrency Market

While the initial trading volume on Bakkt may have been lower than some expected, the platform's long-term impact on the cryptocurrency market could be significant.The introduction of physically-settled Bitcoin futures provides institutional investors with a regulated and secure way to gain exposure to Bitcoin, potentially driving increased adoption and liquidity.

Here are some potential impacts:

• Increased Institutional Investment: Bakkt's physically-settled futures could attract more institutional investment into the Bitcoin market, leading to greater market depth and stability.
• Improved Price Discovery: The physical settlement mechanism could improve price discovery by linking the futures market more closely to the underlying Bitcoin spot market.
• Enhanced Market Legitimacy: Bakkt's regulated status could enhance the overall legitimacy of the cryptocurrency market, making it more appealing to traditional investors.
• Reduced Volatility: Increased institutional participation could potentially reduce the volatility of Bitcoin prices over time.

Addressing Common Questions About Bakkt

Do I need a clearing member relationship to trade on Bakkt?

Yes.All trading participants require a futures commission merchant (FCM) that is a clearing member of ICUS to trade and clear the Bakkt Bitcoin Futures and Options contracts.

What contract will be listed for trading on ICE Futures Singapore (IFSG)?

The first contract that IFSG will launch is the Bakkt Bitcoin (USD) Cash Settled Monthly Futures contract.

How is the futures contract regulated?

The Bakkt Bitcoin (USD) Cash Settled Monthly Futures will be exchange-traded on IFSG and cleared by Intercontinental Exchange.

What are the trading hours?

Trading hours are 8:00 a.m. to 6:00 a.m. Intercontinental Exchange s (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launch on Sept. 22. According to ICE historical data on BakktSingapore time, Monday to Friday, with a pre-open at 7:55am Singapore time.

Bakkt vs. Bakkt Platform Launched: Trades 71 Bitcoin Futures Contracts in 24 Hours. Lucas Cacioli . ICE s historical data on Bakkt s Bitcoin/USD futures contract trading reveals that the platform traded 71 BTC at press time, with the last trading price recorded at $9,875 per Bitcoin.Other Bitcoin Futures Platforms

It's important to distinguish Bakkt from other platforms that offer Bitcoin futures contracts. Intercontinental Exchange s (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launch on Sept. 22. According to ICE historical data on Bakkt s Bitcoin/USD futures contract trading, the platform has traded 71 BTC at press time, with the last recorded trading price settling at $9,875 per Bitcoin.The key difference lies in the settlement mechanism. Intercontinental Exchange, the governing body behind the New York Stock Exchange, has executed the first block trade of Bakkt Bitcoin futures contract. Intercontinental Exchange (ICE), the governing body behind the New York Stock Exchange, has executed the first block trade ofMany existing platforms offer cash-settled futures, where the contract is settled in cash based on the price of Bitcoin at expiration.Bakkt, on the other hand, offers physically-settled futures, requiring the delivery of actual Bitcoin upon settlement.This distinction is crucial because it appeals to institutional investors who prefer holding real Bitcoin and reduces the potential for manipulation.While other platforms such as the CME also offer futures, Bakkt was initially seen as a major disruptor due to the physical settlement.

Another platform of note is ICE Futures Singapore (IFSG) which lists Bakkt Bitcoin (USD) Cash Settled Monthly Futures.

The Significance of Physically-Settled Bitcoin Futures

Physically-settled Bitcoin futures offer several advantages over cash-settled futures:

• Reduced Counterparty Risk: By requiring the delivery of actual Bitcoin, physically-settled futures reduce the risk that one party will default on the contract.
• Improved Price Discovery: The physical settlement mechanism links the futures market more closely to the underlying Bitcoin spot market, leading to more accurate price discovery.
• Increased Institutional Appeal: Many institutional investors prefer holding real Bitcoin rather than simply speculating on its price, making physically-settled futures more attractive to them.

Lessons Learned from Bakkt's Initial Launch

Bakkt's initial launch provided valuable lessons for the cryptocurrency industry.It highlighted the importance of regulatory compliance, the need to cater to institutional investors' specific needs, and the potential impact of market conditions on trading activity.While the first 24 hours may not have been a resounding success in terms of trading volume, the platform's long-term potential remains significant.

Beyond the First 24 Hours: Bakkt's Evolution

Following the initial launch, Bakkt continued to evolve, introducing new products and services to cater to the growing demand for institutional Bitcoin investment.The platform also saw increased trading volume during periods of Bitcoin price volatility, demonstrating its role as a valuable tool for managing risk in the cryptocurrency market.

For instance, when Bitcoin's value suddenly dropped below $7,500, Bakkt experienced a spike in trading volume on October 23rd.This surge suggests that investors were using the platform to hedge their positions or take advantage of arbitrage opportunities.

The Future of Institutional Bitcoin Investment

Bakkt's launch marked a significant step towards mainstream adoption of Bitcoin by institutional investors.While the platform's initial trading volume may have been modest, its long-term potential remains considerable.As the cryptocurrency market matures and regulatory frameworks become clearer, we can expect to see increased institutional participation in Bitcoin futures and other digital asset derivatives.

Conclusion: Key Takeaways on Bakkt's First Day

In conclusion, while Bakkt trades 71 Bitcoin futures contracts in the first 24 hours of its launch might not have set the world on fire, it was a pivotal moment in the evolution of cryptocurrency.The introduction of physically-settled Bitcoin futures represented a significant step towards institutional adoption of Bitcoin, providing a regulated and secure way for sophisticated investors to gain exposure to the digital asset.The initial trading volume was influenced by factors such as institutional caution, regulatory requirements, and market conditions.However, the platform's long-term potential remains considerable, with the potential to improve price discovery, enhance market legitimacy, and reduce volatility in the cryptocurrency market.Bakkt's launch serves as a reminder that mainstream adoption of Bitcoin is a gradual process, requiring careful planning, regulatory compliance, and a deep understanding of institutional investors' needs.It is clear that Bakkt’s launch was a key moment and its long term effects on the market remain to be seen.The creation of similar, but different instruments on ICE Futures Singapore further expands the reach of Bitcoin futures to a wider audience.

Consider exploring Bakkt's platform and the broader world of Bitcoin futures to stay informed about the evolving landscape of cryptocurrency investment.What steps will you take to further your understanding of this dynamic market?