‎‎‎ ‏‏‎

 

Bakkt says it’s ready to roll out cash-settled monthly futures contracts for Bitcoin.

The Intercontinental Exchange-operated platform will list the contract on ICE Futures Singapore by December 9th.

It will be settled against data from the physically delivered Bakkt Bitcoin (USD) Monthly Futures contract, according to an announcement from ICE.

 

Lucas Schmeddes, president and chief operating officer of ICE Futures and Clear Singapore, says the product is another way for Bitcoin investors to hedge.

“Our new cash settled futures contract will offer investors in Asia and around the world a convenient, capital efficient way to gain or hedge exposure in Bitcoin markets.

Building off the success of our deliverable futures contract, the cash-settled futures will leverage ICE’s regulated, globally accessible market to offer a safe, secure and compliant environment for the trading of bitcoin.”

ICE Singapore is inviting people to comment on the details of the contract specifications and proposed rule changes by November 29. The new contract will be cleared by ICE Clear Singapore, which is regulated by the Monetary Authority of Singapore.

 

Bakkt’s Bitcoin futures trading went live in late September. The development, billed as the next step towards harnessing institutional investment in crypto, got off to a slow start but picked up steam in late October.

Since then, its volume numbers have been up and down – but consistently better than they were at launch.

 

ADVERTISEMENT

Follow us on Facebook           
Join us on Telegram            Follow us on Twitter



Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.