The first 24 hours of the Bakkt Bitcoin Futures Market saw a really slow start, contrary to the common anticipation. The website had a lackluster first day of trading.

When the session closed on Monday, the platform saw only two daily futures contracts and 71 monthly futures contracts trading. Moreover, the first contract didn’t even trade until 18 hours after the launch. This was when the bitcoin price was trading at $9,975.

It was a slow start for the market however it will be on track according to some analysts. It will take a while for the contracts to pick up as slow start is a natural progression for regulated futures products. The data needs to be available to more customers. Also, more brokers will have to list the product for making the contract popular. So we are only at the beginning. It will be interesting to see if the Bakkt bitcoin futures market picks up trading volumes during the week ahead.

According to analysts, the Bakkt futures contract is great. This is because the Bitcoin at Bakkt warehouse physically backs the contracts. This implies that every contract bought on margin will have a full Bitcoin equivalent in storage. Also, they are listed on ICE Futures U.S. and cleared by ICE Clear US as per the source.