Bakkt Bitcoin futures smashes daily volume record by 36%

Bakkt Bitcoin futures smashes daily volume record by 36%


Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts.

On September 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%.

According to crypto market data aggregator Skew, the record figure is roughly double the average daily volumes posted throughout September so far.

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Bakkt daily Bitcoin futures volume: Skew

Despite being touted as the likely catalyst for an institutional-led bull market, Bakkt’s Bitcoin derivatives failed to meet the expected impact — seeing sustained periods of complete inactivity during January of this year. However, the steady increase in volume recently enjoyed by the platform suggests that institutions are now warming to it.

A point of difference for Bakkt’s contracts is they are supposedly ‘physically settled’ in Bitcoin rather than cash. However, analysts have highlighted that most

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