No One Has Traded Bitcoin Options on Bakkt for Over a Month: Deribit Continues to Dominate
Open interest for Bakkt's bitcoin options market has stayed at $0 since June 15.
Updated Sep 14, 2021 at 9:35 a.m. UTC
![Bakkt open interest for bitcoin options since June 1](https://www.coindesk.com/resizer/aVlLAfc4qmoSaFADGGThArp1lZY=/567x341/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/GSFSC7F63ZA7LK7QMGC4TYFJLE.png)
Bitcoin options traders have completely deserted Bakkt, with its volume and open interest flatlining at $0 since June 15.
- The Intercontinental Exchange's subsidiary launched its bitcoin options market in December 2019.
- Open interest for the exchange’s options market has suffered complete inactivity before, but the current 38-day streak dwarfs other periods.
- Bakkt's options volume has also dropped to $0 since April 23, according to Skew.
- Bakkt declined to comment when contacted by CoinDesk.
![Bakkt open interest for bitcoin options since June 1](https://www.coindesk.com/resizer/hOhw5g3L566UmuN3DJgsa0JmImM=/560x294/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/AMFIFWZ2PFB3FEYZY6ZWNHALTA.png)
- The record for daily options volume in Bakkt is $528,000, set on January 8.
- According to Skew, 92% of bitcoin options trading volume is controlled by Panama-based exchange Deribit, which reported $101 million in volume Tuesday.
![Bakkt volume for bitcoin options since April 21](https://www.coindesk.com/resizer/xOpdTDAa5TjzIL1fBYn4c3DYQTk=/560x304/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/RVRGLL4PYZC67HK6SCZIPLOYSQ.png)