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

October 30, 2019 | Digital Assets, News
https://dailyalts.com/wp-content/uploads/2019/10/business-3194671_1920-btc-bakkt.jpg

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.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2020/08/apartment-3564955_640.jpg
Alternative Investments/Real Estate: The New Guardian i3 Global REIT ETF
August 13, 2020     Alternative Investments, News, Real Estate

The inaugural suite of five ETFs from Guardian Capital comprises two Directed Outcomes solutions that combine high conviction ideas with derivative overlays to seek high income and risk mitigation and…

https://dailyalts.com/wp-content/uploads/2020/08/screenshot-www.gong_.io-2020.08.13-14_48_15.png
Venture Capital: Gong Secures Unicorn Status With $200M Series D
August 13, 2020     News, Venture Capital

Gong, the startup which helps businesses glean “revenue intelligence” from customer interactions, achieved unicorn status when it raised $200 million at a valuation of $2.2 billion. Coatue led the Series…

https://dailyalts.com/wp-content/uploads/2020/08/blockchain-3438501_640.jpg
Digital Assets: NPP, A Blockchain Solution for Governments Considering a CBDC
August 13, 2020     Digital Assets, News

Apollo Fintech announced Wednesday the completion of its National Payment Platform (NPP), the first of its kind, blockchain-based, cashless national currency platform. It enables a central bank to issue a…

https://dailyalts.com/wp-content/uploads/2020/08/sydney-opera-house-3381786_640.jpg
FinTech: Done With Beta, Revolut Preps For Australian Launch
August 13, 2020     FinTech, News

Revolut, the UK-based neobank led by Nikolay Storonsky, on Tuesday called an end to its beta mode operations in Australia. Country CEO Matt Baxby said the fintech was now readying…