Bakkt has announced the first regulated option contract for bitcoin, which is scheduled to launch on December 9.
According to Bakkt’s calculations, Such a contract will ensure efficient use of capital and cash settlements, as well as plans to reduce commissions, instant messaging, options Analytics and making large transactions.
According to Bakkt CEO Kelly Loeffler, The new product is designed to Meet customer requirements. The peculiarity of this tool is that the platform will feature European-type option contracts that cannot be executed before the maturity date. In addition, option contracts are designed to expand hedging opportunities, as well as to strengthen the position of bitcoin in the market. Bitcoin options will be based on monthly bitcoin futures that opened in September. Starting in January, Bakkt will start charging a trading Commission of $1.25 per option contract.
It is worth noting that the day before this news appeared, the volume of bitcoin futures trading on the Bakkt platform reached a new high – 640 contracts per day (about $5 million). This figure is similar to the trading volumes for the first week after the launch of the platform.
Despite the launch of Bakkt, which many investors have been waiting for for a long time, and the company’s plans to cooperate with major brokers, the bitcoin exchange rate in October fell below $8,000 for the first time since June this year and continues to follow a downward trend.