Bakkt To Roll Out Bitcoin Options Before CME; Launch Date December 9

October 30, 2019 | Digital Assets, News

Bakkt will gain a lead on CME Group in the race to offer the first regulated options contract for bitcoin futures.

ICE, the parent company of the NYSE, is sponsoring Bakkt. Bakkt’s bitcoin options will launch on December 9, the exchange said in a blog post published Thursday. However, in contrast, CME has set a somewhat nebulous date for its options rollout – “early 2020, pending regulatory approval.”

Kelly Loeffler’s announcement

Simultaneously with the blog, Bakkt CEO Kelly Loeffler also announced the fact during the CFTC Fintech Forward 2019 event. She was participating in a panel discussion on “Re-imagining Markets: What Digitization Means … for Transactions, Custody, and Markets.”

In the Medium post she clarified the bitcoin options were fully regulated. Further, they were designed to hedge or gain bitcoin exposure, generate income, and offer cost and capital efficiencies.

“Bakkt Bitcoin Futures have tight bid-ask spreads throughout U.S., European and Asian trading hours, and we continue to onboard new institutional and retail customers,” she wrote.

Bakkt launched in September this year. At the time Loeffler described the launch of the new futures as “the dawn of an asset class.”

Meanwhile, liquidity on the Bakkt exchange has been building up, and on October 23, volume touched a record 590 contracts of Bakkt Bitcoin Monthly Futures.

Proposed Bakkt’s Bitcoin options features

Moreover, key features of the new options contract are:

  • Capital efficiency
  • Cash or physical settlement
  • European style option
  • Attractive fees
  • Broad distribution and liquidity
  • Instant Messaging
  • Block trades
  • Options analytics

[Related Story: CME Group to Launch Bitcoin Options In 2020 ]

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

January 16, 2020

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

Latest Alternative Investment News

Digital Assets: UAE a Flag-bearer for Blockchain Technology Deployment
January 20, 2020     Digital Assets, News

The UAE is a Flag-bearer for Blockchain Technology Deployment. A joint white paper has been issued by the World Economic Forum and the United Arab Emirates’ Centre For The Fourth…

Digital Assets: Bitwise/ETF Trends 2020 Survey – 65% Advisors Want to Buy Bitcoin in an ETF
January 20, 2020     Digital Assets, News

The Bitwise / ETF Trends 2020 Benchmark Survey of Financial Advisor Attitudes Toward Cryptoassets gives useful insight into what advisors are thinking about Bitcoin and cryptos going into 2020. ETFs…

ESG: Best Buy’s CEO in the Dock for Alleged ‘At-Work’ Liaison
January 20, 2020     ESG and Sustainability, Latest News, News

Current Best Buy CEO Corie Barry allegedly had a romantic relationship with a male colleague before taking charge as CEO in June 2019. Best Buy’s board is investigating the charge,…

Emission-Free Friday: Here are the Latest Funds to Push for Carbon Neutral
January 17, 2020     ESG and Sustainability, Investments, News

Carbon emissions dominated the headlines this week. The European Commission has announced an ambitious plan to shift toward a green economy and make the EU carbon-neutral in the year ahead….