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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.


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