Bakkt has declared to make an addition to its offerings. The platform will launch the Options Contracts for Bitcoin futures on its network on December 9. The contracts, designed in European style to prevent the decrease of operational burdens, will render both cash and physically-settle delivery.
Chief executive of Bakkt, Kelly Loeffler, published in the official post, “We’re committed to bringing trust and utility to digital assets, and the options contract is an example of the many products we’re developing for regulated markets.”
In regard to the new addition, the executive stated that the options contract will be based on the benchmark Bakkt Monthly Bitcoin Futures contract. Moreover, it will represent another significant step in developing the asset class for institutional investors and customers. Besides this, the crypto platform will feature capital efficiency, block trades, broad distribution, and options analytics.
Bakkt will offer a fee relief for December on the Options contract but will charge $1.25 per contract from January 2020. Although Bakkt’s launch came out to be a flop show, the recent slump in the bitcoin price brought an ascend in the trading volume of the contracts. The volume surpassed $4.5 million in a single day.