Bullish Bakkt: Company Launches New Products as Futures Trading Surges

Bakkt, a company that focuses on driving institutional investment in crypto, has long been hyped as playing an important role in impacting market valuations.

Bakkt's product launches have not always matched up with its reputation.

Many crypto platforms experienced a boost in volume, and Bakkt was no different.

According to data from the Twitter-based monitoring resource Bakkt Volume Bot, Bakkt traded 1,183 Bitcoin futures on Friday.

OptionsAs the volumes on Bakkt's futures platform grow, the firm announced on Oct. 24 that it would launch the first regulated options contracts for Bitcoin on Dec. 9.

In a press release, Bakkt announced the options contracts would comprise of capital efficiency, cash or physical settlement, low fees and European-style options.

Although the options service will launch fee-free, Bakkt will begin charging $1.25 per contract from January 2020.

Bham told Cointelegraph that Bakkt's options service could further increase institutional investment in cryptocurrency, "As BAKKT caters to institutional players with big capital, increased volume from options should beget even more volume, as the platforms credibility grows." He went on to add that because Bakkt requires BTC for settlements, it could drive the demand for crypto.

While Edwards takes a dim view of the service that Bakkt is currently offering, he admitted that the discrepancy in volumes since the platform's launch could come down to low usage from day traders, adding that, "What Bakkt currently offers in terms of its futures product does not provide game-changing utility."

Bakkt pairs up with StarbucksAlthough most of Bakkt's commercial services have targeted institutional investment, the firm announced its entrance into the mobile payments sector with a new app-based project.