Institutional investor interest is worrying, last week Bakkt Bitcoin options trading volume was zero

Is the popularity of Bakkt Bitcoin options so far?

It would be an understatement to say that the latest bitcoin product launched by this institutional trading platform has performed poorly, as the volume of bitcoin futures contract options on Bakkt has actually dropped to zero.

bakkt

According to data from analysis firm Skew, the bitcoin futures exchange managed by Intercontinental Exchange (ICE) has not had any bitcoin options trading on its platform in the past 10 days. Data from the ICE website indicates that its option trading volume was zero from January 20 to 24. It is not traded on the weekend, so the last recorded activity occurred on January 17th, when 20 Bitcoin options changed hands that day.

1

In contrast, Bakkt's rival, the Chicago Mercantile Exchange (CME), has traded bitcoin options well over the past two weeks. In the first week of trading, the trading volume of BTC options on the Chicago Mercantile Exchange surged from 55 contracts on the first day of trading (about 2.37 million USD) to 120 contracts at the end of the first week (about 5.25 million USD) .

However, investor interest in CME products also seems to be waning. Last week, the exchange registered only 59 Bitcoin options transactions for the entire week.

Tim McCourt, head of the CME Global Equity Index, said in an interview that since the company's first launch of Bitcoin futures in December 2017, "demand for option products has been high."

Earlier this month, when bitcoin options were finally launched at the CME, analysts at JP Morgan expressed the same sentiment, telling Bloomberg that institutional investors have "high expectations" for bitcoin options. ".

So where did all the expectations go?

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Interpreting FTX's preliminary restructuring plan Cash compensation is adopted, excluding FTT holders.

At present, the restructuring plan of FTX is still in its early stages. The team will submit a revised plan and discl...

Policy

Babbitt Column | US Prosecution Investigative Exchange and Precautions

(For more details, see also Deng Jianpeng, Sun Penglei: “Intermediary Chain Supervision and Compliance Respons...

Opinion

Unveiling SBF's Defense Draft of up to 250 pages I did what I believed was right.

In the draft, SBF traced his development history, from his childhood in Palo Alto to the penthouse apartment he purch...

Blockchain

Data tells you how the DEX ecosystem evolved in 2019

Decentralized exchanges (DEX) emerged in 2018 and have flourished in the past year. With DeFi disrupting the economic...

Market

Exploring the evolution of the stablecoin market structure: Why can USDT always dominate the first place?

Stablecoin competition is an endless topic, as the industry struggles in its second decade, hoping that the market ca...

Blockchain

Three major domestic virtual currency exchanges focus on compliance business and actively engage with local governments and state-owned enterprises

China Times (www.chinatimes.net.cn) reporter Ran Xuedong trainee reporter An Lingfei Beijing reports The currency cir...