In the first week, only 623 transactions with deliverable bitcoin futures were completed on the Bakkt platform.
Since each contract corresponds to one bitcoin, then at the current level of prices for military-technical cooperation at $ 8360, during this time the trading volume amounted to only about $ 5.2 million.
For comparison, on CME, the only competitorBakkt, on Friday alone, 4,099 trade transactions were concluded involving bitcoin futures contracts, each worth five coins. In total this is approximately $ 165 million per day.
After the launch of the trading platform on Bakkt on September 23, it traded on average less than 5 daily bitcoin futures.
These figures are low forinstitutional market, which marks the leadership of the company. Although experts argue that large investors need time to move from one site to another, if this is not promoted by clear economic advantages or risks. According to Alexei Kiriyenko, managing partner of the investment company EXANTE, indicative results will be only in a quarter.
Assessing the first results of Bakkt, representativeICE Damon Levell said that given the lowest spreads on the market for deliverable futures, which ended in October, the current result is a real achievement.</p>