Altogether, the contracts are really well worth about $126 million, on the time of writing. Each agreement is equal to 1 bitcoin (BTC).
Total open interest – a hallmark of the entire quantity of notable contracts held through investors – reached $8 million from a low of around $4 million some days earlier, displaying that extra cash is flowing into the marketplace.
Bakkt potentially represents a double-barrel threat to CME. Not only is it competing in futures, if it attracts a substantial amount of spot trading activity (due to a superior trading, clearing, settlement and custodial...
Bakkt’s main feature is physically delivered BTC futures contracts, which the platform actively marketed before launch. Futures represent an agreement to shop for or sell an asset on a selected future date at a selected price — a crucial risk management tool for volatile markets like crypto.
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