ICE’s Bakkt Launches Bitcoin Options, Cash-Settled Futures

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Just over three months following the launch of its physically-settled Bitcoin futures product, crypto futures exchange Bakkt is expanding its product offerings with the launch of CFTC-regulated monthly Bitcoin options and cash-settled futures contracts. The announcement came in a blog post published by COO Adam White on Monday, December 9.

In the time since the launch of the cash-settled futures contracts yesterday, Bakkt said on Twitter that over 1,000 contracts have been traded.

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Bakkt’s latest announcement comes approximately a month before Chicago Mercantile Exchange (CME) Group is set to launch options on its BTC futures contracts in January. However, CME’s pricing will be dependent on its Bitcoin index, while Bakkt’s pricing will be based around its existing physical product

Additionally, Malta-based cryptocurrency exchange OKEx announced on Monday that it would begin offering options trading later this month.

Bakkt CEO Kelly Loeffler was named as the next Senator of the state of Georgia by State Governor Brian Kemp last week. Loeffler will step down as the company’s CEO before she is sworn into office on January 1st, 2020.

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