The trading volume of Bitcoin (BTC) futures on the Intercontinental Exchange’s (ICE) Bakkt platform reportedly soared to 224 contracts on Oct. 9 — 796% higher than the previous day. According to the tracking data compiled by Twitter account Bakkt Volume Bot (@BakktBot) — which is not affiliated with Bakkt but rather with Dutch journalist and crypto author Gert-Jan Lasterie — the 224 contracts represent an apparent all-time high for the platform. A turnaround after tepid launch? Graph showing reported increase in daily traded volume for Bakkt Bitcoin Monthly Futures. Source: @BakktBot The bot’s data indicates that daily traded volumes of …

The Chicago Mercantile Exchange (CME) Group expects to see high demand in Asia for its forthcoming Bitcoin (BTC) options product. Tim McCourt, CME Group’s global head of equity index and alternative investment products, told news outlet South China Morning Post on Oct. 10 that the new crypto derivative product is expected to prove as popular as the exchange’s existing BTC futures. Miners will be able to hedge their costs According to the report, as much as half of the volume for CME’s current BTC futures is accounted for by Asian and European traders. McCourt told reporters that the forthcoming options …

New research this week has added to suspicions that futures settlement dates end up manipulating the Bitcoin (BTC) price. Bitcoin drops 75% of the time before futures expire According to findings from Arcane Research reported by Norwegian crypto news outlet Kryptografen on Sept. 24, CME Group’s Bitcoin futures settlement dates, in particular, appear to negatively influence BTC markets. Analyzing price behavior from January 2018 to August 2019, the company found that 75% of the times immediately before CME issued payouts, Bitcoin fell. CME was one of the first operators to launch Bitcoin futures in December 2017. Since then, interest has …

The COO of institutional trading platform Bakkt appears unsure about its futures market predicting the impact of the 2020 Bitcoin halving event. White: We want to “lead price discovery” Speaking to CNN in an interview on Sept. 23, Adam White said that Bakkt’s newly-launched futures contracts should help the market value Bitcoin (BTC). “We hope the Bakkt daily and monthly futures contracts lead price discovery,” he told the network. Bakkt debuted its Bitcoin futures this weekend, trading 71 contracts on its first day. While its release was keenly awaited, the company is looking forward to increasing on-ramps for new investors …

Following the launch of Bakkt’s Bitcoin (BTC) futures, the company listed three reasons why the event is an important milestone for the industry. In a statement on Sept. 23, Bakkt CEO Kelly Loeffler emphasized that the successful launch of Bakkt Bitcoin Futures contracts is the first time when United States-regulated, physically settled Bitcoin futures became available. Loeffler pointed out that the sole fact that such a product now exists may matter more than the precise details of the initiative. Loeffler: Regulated markets accelerate the adoption of digital assets Stressing that the launch of the service is an important step to …

The Chicago Mercantile Exchange (CME) Group is adding options to its Bitcoin (BTC) futures contracts in the first quarter of 2020, pending regulatory review. The development was announced in a news release on Sept. 20. “Flexibility to hedge Bitcoin price risk” Tim McCourt — CME Group Global Head of Equity Index and Alternative Investment Products — said: "Based on increasing client demand and robust growth in our Bitcoin futures markets, we believe the launch of options will provide our clients with additional flexibility to trade and hedge their bitcoin price risk." McCourt added that the new products are intended to …

Bitcoin (BTC) and cryptocurrency will gain trust from the incoming launch of institutional trading platform Bakkt, a well-known analyst has said. More praise for Bakkt In a tweet on Sept. 19, Fundstrat Global Advisors co-founder Tom Lee joined the increasing number of Bitcoin figures bullish about Bakkt’s impact on the space. The platform goes live on Sept. 23, and will first offer physical Bitcoin futures. Investors, who have been able to deposit funds since Sept. 6, will take delivery of payouts exclusively in BTC. The remaining days to launch have so far been characterized by lackluster progress for Bitcoin markets, …

The CEO of cryptocurrency exchange Binance has dispelled fears a bad actor had attacked its newly-launched Bitcoin (BTC) futures platform. Technical error crashed Bitcoin price In a series of tweets on Sept. 16, Changpeng Zhao, also known as CZ, initially warned that the exchange’s futures were under attack from one of its own market makers. The perpetrator allegedly crashed the BTC/USD order book from $10,324 to $10,024, in what Zhao said was the second such attempt at an attack. Binance launched its futures platform in invite-only mode following a user testing period earlier this month. Two platforms were originally available, …

The Chicago Mercantile Exchange (CME) Group is petitioning United States regulators to allow its clients to double their open Bitcoin futures positions. Double open positions limit, says CME According to Nasdaq on Sept. 12, CME has already put its plans before the Commodity Futures Trading Commission (CFTC). If successful, each investor would gain a monthly limit of 2,000 contracts per spot month instead of the current 1,000. The move comes on the back of constant growth in demand for Bitcoin futures, with CME’s volumes setting new records on a regular basis. As Nasdaq notes, the CFTC officially states that lower-risk …

The 24-hour trading volume of major cryptocurrency exchange Binance’s futures markets has exceeded $150 million denominated in Tether (USDT). On Sept. 10, a Reddit user published their findings on Binance’s futures markets performance. Over the past 24 hours of trading, the figures reached notable volumes in the Bitcoin (BTC)/USDT pairing, bringing the daily trading volume to over $151 million in USDT. Closed testing mode Binance initially launched two futures testnet platforms named Futures A and Futures B on Sept. 2, inviting users to participate in a 10,000 Binance Coin (BNB) trading competition. During the competition, Binance said it would provide …

The Intercontinental Exchange (ICE) has announced tentative margin requirements for Bakkt Bitcoin (BTC) futures trading contracts. The announcement appeared on ICE’s official website on Sept. 9. Bakkt futures margin requirements Per the notice, the initial hedge requirement for daily and monthly futures contracts is $3,900. The speculative initial requirement for both contracts is $4,290. The inter-month add-ons for the monthly and daily futures contracts are between $400 and $1,000 for the hedge rate and between $440 and $1,100 for the speculative rate. These margin requirements represent the latest developments surrounding the long-awaited Bakkt futures contracts. Earlier this week, Bakkt announced …

Bitcoin (BTC) deposited at the Bakkt Warehouse is protected by a $125 million insurance policy, according to an announcement on Sept. 9. The company started accepting deposits and withdrawals on Sept. 6, ahead of the planned launch of its futures products on Sept. 23. Deposits launch as planned It took Bakkt a lot of time and effort to gain regulatory certification for its upcoming daily and monthly physically delivered Bitcoin futures products. Since approval was given, things has been full speed ahead — with deposits in its freshly certified custodial warehousing solution happening as planned. News of the insurance policy …