Bakkt Trading Goes Live
San Francisco — Today the Bitcoin-backed futures product on Bakkt went live. After over 18 months of speculation, planning, and delays, the platform began taking orders at 5 PM GMT, 9/22/2019. While expectations from the cryptocurrency were high, most of Twitter seemed to be less than thrilled at the initial volume, which accompanied a drop in the price of Bitcoin to below the $10,000 level it has been occupying for the last couple weeks.
Volume has increased, rising to 62 Bitcoin (~$600,000) as of the time of writing. As the Bakkt launch was a very public announcement, garnering attention from multiple news outlets, a “sell the news” event was to be expected. However, the foundation has been set for institutional investors to enter the space.