Encryption analyst Plan B analyzed on podcasts how derivative vendors like Bakkt affect the ecosystem. He said that the derivatives market is very important because of its network effect on Bitcoin. It opens up the market and makes it more attractive to investors who always want to sell their investments. He added that institutional investors want the market to sell at normal prices, and the futures market meets their requirements because investors can either sell or close. He then compared Bakkt to the Chicago Mercantile Exchange (CME), a cash-settled futures exchange. CME may be disadvantageous because it relies on fiat currency. However, the addition of Bakkt is very important because it allows Bitcoin to be used to trade Bitcoin in the future, rather than French currency.