Bakkt adds options and cash-settled futures to its suite of crypto derivatives

Bakkt announced today it will be offering two new products, the Bakkt Bitcoin Monthly Options which is based on the settlement of the underlying futures contract eliminating exposure to the spot market and Bakkt Bitcoin Cash Settled Futures which will be made available on ICE Futures Singapore and will offer an alternative for users who cannot trade the existing physically delivered contract.

Why it matters:

• COO Adam White believes these contracts will “provide market participants with the price discovery and risk management necessary to serve the trading and hedging needs of producers, consumers, traders and institutions.”
• By launching in Singapore, the new products allow Bakkt to penetrate the growing derivatives market in Asia to compete with other recently announced derivative products such as Phemex perpetual futures, CME options, and OKEx options.