Opinion: Even if the SEC approves the Bitcoin ETF, it will be as slow as Bakkt at the start.

On Monday, the Wall Street Journal published a disappointing answer to the answer given by Bakkt, the bitcoin futures platform of ICE, two weeks after its launch. According to the report, the trading volume of Bakkt's bitcoin futures contract is terrible. Only 49 contracts were traded on Friday. In the previous nine trading days, a total of 865 contracts changed hands. Matt Hougan, head of research at Bitwise Asset Management, said it is unrealistic to think that Bakkt will lead to a large influx of buyers. He said, "Things don't happen suddenly. They take days, weeks, months, and sometimes years to brew." In addition, Hougan believes that even if the SEC approves the Bitcoin ETF, it will be like Bakkt at the start. It’s as slow. He said, "This is not a starting gun that will make everyone rush out of the starting line."