Bakkt exchange bitcoin options products had zero trading volume last week

The volume of bitcoin options products traded by Bakkt, a crypto trading platform owned by Intercontinental Exchange (ICE), was dismal.

According to data on ICE's official website, during the week of January 20-24, Bakkt's trading volume of bitcoin options products was zero. The last trade of the product took place on January 17 with a trading volume of 20 contracts. If the weekend is also taken into account, then Bakkt's bitcoin options products have not been traded for more than 10 days.

In contrast, investors have shown strong interest in Bitcoin options from Bakkt's rival, CME Group. According to CME's official website, last week CME Group traded 59 Bitcoin option contracts.

Nonetheless, an ICE spokesperson stated that Bakkt showed "strong" interest in both its bitcoin options and futures products. "We continue to have a strong interest in our growing customer base in the Bitcoin futures and options market, which offers a wide range of options for interacting with and hedging digital assets."

Bakkt launched Bitcoin options on December 9, 2019, while CME launched Bitcoin options on January 13, 2020. CME's bitcoin options achieved a trading volume of $ 2.19 million on the first day of its launch, exceeding Bakkt's total trading volume of $ 1.15 million.

CME Managing Director Tim McCourt said at the time that he was satisfied with the trading volume on the first day of the transaction and that market participants' feedback was "great".

Author Liang CHE This article is from bitpush.news. Please indicate the source when reprinting.