Trading volume in bitcoin futures listed on the global exchange Bakkt platform surged to record highs recently on 15th Sept.
The leading derivatives exchange traded record 15,955 contracts, worth over $200 Mln. That’s up by over 36% from the earlier highs of around 11,706 USD contracts earlier on 28th July, this year.
In line with an official report by data source Skew, the daily volumes have hiked by over 1,000% on a year-to-date basis.
Physically settled futures require bitcoin to be delivered on the required delivery date instead of being traded out with offsetting contracts.
As per a recent official press release by the president of Bakkt, ‘Adam White’:
“Since we primarily launched Bakkt nearly an year ago, we’ve remained committed to expanding trust in and unlocking the worth of digital assets.”
Bakkt still lags the Chicago Mercantile Exchange, which registered a volume of $262 Bln on Tuesday & a record daily volume of $1.2 Bln earlier in August. As of 15th Sept., Bakkt accounted for just 1.6% of the worldwide futures trading volume of $12 Bln.
Binance traded around $2.8 Bln worth of futures contracts and was among the leading cryptocurrency exchange by trading volume.