Bakkt aims to offer cash-settled bitcoin futures before 2020 to complement its physically settled contracts.
Bakkt plans to add options on its physically delivered bitcoin futures in December.
The CME touts the success of its bitcoin futures contract, as the battle for institutional investors heats up thanks to competition from Bakkt.
Crypto fund Galaxy Digital and OTC trader XBTO have conducted the first-ever block trade of Bakkt's bitcoin futures contract.
The firm's SEC prospectus details a cash-settled bitcoin futures fund offering 100,000 shares at $10 apiece.
Just 623 bitcoin futures contracts were traded during Bakkt's debut week.
The tepid reception to Bakkt's physically delivered futures contracts is not a surprise, nor does it mean they are a failure.
Bakkt COO Adam White said retail investors will be able to trade its newly launched bitcoin futures, which posted a lackluster first day.
Trading of Bakkt's physically-backed bitcoin futures kicked off today, with 28 contracts having changed hands so far.
Bakkt is finally launching Monday. Here’s what to expect from bitcoin’s first regulated, physically settled, institutionally focused futures…