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.” Read More...