Altogether, the contracts are really well worth about $126 million, on the time of writing. Each agreement is equal to 1 bitcoin (BTC).
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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.