Bakkt Futures Volume Up on Institutional Trading; Its President Slams Offshore Options
Institutional interest is driving Bakkt's bitcoin futures volumes up, but its options market has remained quiet.
Derivatives' role in bitcoin's rally is "muted" this time, said one trader.
A Friday note outlines institutional, corporate and millennial interest in the leading cryptocurrency.
Open interest surged to $976 million Monday.
Futures funding stayed flat or turned negative despite bitcoin's rally to $12,000.
Bitcoin's 180-day volatility dropped to its lowest level since November 2018.