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Bakkt Exchange’s Bitcoin Futures See Slow Start on First Day of Trading

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Trading of Bakkt’s physically-backed bitcoin futures saw something of a slow start at launch today.

Minutes after the launch at 12:00 UTC, the first Bakkt/ICE futures contract changed hands at $10,115. The number of contracts in the first hour stood at just 5 total. At press time (10 or so hours later), 28 contracts had been traded, with just one at a sub-$10,000 price.

Some online commentators believe the slow start is a natural progression for regulated futures products.

Su Zhu, CEO and CIO of Singapore-based hedge fund Three Arrows Capital, said that most regulated futures contracts see low adoption on the first day, simply because not all futures brokers are ready to clear them.

by https://www.coindesk.com/bakkt-exchanges-bitcoin-futures-see-slow-start-on-first-day-of-trading

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