The Intercontinental Exchange (ICE) will launch bitcoin options contracts in December through its subsidiary Bakkt.
Bakkt Bitcoin options contract is certified with CFTC
Acording to the announcement, the firm will launch the first regulated options contract for Bitcoin futures on December 9. O
In addition to its options contracts, Bakkt is launching a market maker program to boost trading of its monthly contract, according to a letter addressed to the U.S. Commodity Futures Trading Commission (CFTC).
“ICE Futures U.S. has self-certified the contract with the CFTC and we’re excited to leverage the benchmark futures prices and institutional-grade custody to meet the needs for a regulated options contract” says Bakkt.
According to Bakkt CEO Kelly Loeffler, the new contract product is based “on customer feedback and is designed to hedge or gain bitcoin exposure, generate income, and offer cost and capital efficiencies.
“Bakkt Bitcoin Options contract “represents another important step in developing this asset class for institutional investors, their customers and investors,” adds Loeffler.
In early October, ICE, the governing body behind the New York Stock Exchange, executed the first block trade of Bakkt Bitcoin futures contracts. On Wednesday, Bakkt futures volumes hit an all-time-high of ~$4.81 million—the figure is more than the total volume over the nine previous trading days combined.
Think we missed something? Let us know in the comments section below.