Bakkt Bitcoin futures contract goes live on Sunday at 8:00 PM EDT recording a total of 28 BTC in the opening 9 hours of the trading. As of press time, the price of Bakkt monthly Bitcoin futures contract is $10,025, while the Bitcoin prices on spot exchanges like Coinbase, Binance is around $9500.

ICE FUTURES U.S. Bakkt Bitcoin (USD) Monthly Futures Contract. Live feed from ICE.

The first trade in the Bitcoin futures contract was executed at 8:02 p.m. EDT on ICE’s futures exchange.

Bakkt’s competitor, CME group started offering Bitcoin Futures contract in Dec 2017 and in the opening month, the firm recorded an average daily Bitcoin futures volume of $90 Million. The recent CME’s Bitcoin futures contract were trading at $9975.

Bakkt Bitcoin Futures contract is different from CME.

In contrast to CME who offers cash-settled Bitcoin futures, Bakkt offers clients with physical delivery of Bitcoin in Bakkt Warehouse.

Bakkt’s Bitcoin futures are federally regulated which provides much-needed legitimacy to an asset class which is underserved by institutional-grade infrastructure. Participants can use Bakkt’s Bitcoin Futures contract to hedge against the risk of adverse price movements or make a bet on the price movements of an underlying asset.

It’s Just Day One Of Bakkt’s Bitcoin Futures Contract

Bakkt provides regulatory clarity, transparency and enterprise-grade security to the digital asset. Therefore, Institutional investors may find it as an attractive investment asset and for individuals to conveniently use for retail purposes.

Concerns of large volatility in Bitcoin prices:

Bakkt’s Daily and Monthly Bitcoin futures contract could also help merchants to protect themselves from Bitcoin price swings. The team is developing ways to let customers use Bitcoin and convert to USD for paying purchases in the shop.

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