Bakkt’s Bitcoin Futures Have Set A New Daily Trade Record Of $20m+

Bitcoin (BTC) futures each day volumes on digital asset platform Bakkt have hit a brand new all-time excessive, in response to information from Intercontinental Change (ICE). Greater than $20.three million was traded in Bitcoin — or 2728 futures contracts — on Nov. 22.
The brand new quantity document represents a 66% improve over the day gone by and is roughly 30% larger than the earlier all-time excessive on Nov. 8.
Moreover, yesterday’s open curiosity is at the moment $1.75 million, a 29% improve over the earlier buying and selling day. Regardless of a sluggish begin upon launch in September, the volumes of Bakkt’s bodily settled BTC futures have been steadily growing.

The brand new document quantity additionally coincides with a major drop in Bitcoin value, which fell under $7,000 on Friday. Earlier upticks in volumes have additionally aligned with main BTC value strikes as seen round Oct. 25 and Nov. 8.
Based on ICE — the operator of 23 main international exchanges, together with the New York Inventory Change — the final reported Bakkt contract buying and selling value on Friday was $7,240.

As reported, Bakkt is increasing its line of Bitcoin-related merchandise as institutional curiosity seems to be rising.
The digital asset platform confirmed earlier this week that cash-settled Bitcoin futures contracts shall be supplied on ICE Futures Singapore as of Dec. 9. The primary regulated choices contract for Bitcoin can also be anticipated to launch on the identical date.

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