Bakkt Volume Soars by 17% as Institutional Interest in Crypto Flourishes

Bakkt volume soars by 17% as institutional interest in crypto flourishes

Bitcoin and the crypto market’s multi-month consolidation period have provided investors with an accumulation opportunity, and it appears that institutional and retail investors have both taken advantage of this. According to new data, trading volume on Bakkt has been rocketing higher in recent times. Over the past week, the institutionally aimed platform has seen a 17 percent rise in its total futures volume, as well as an 18 percent climb in its total open interest. Bakkt isn’t the only platform seeing heightened institutional activity, as futures on the CME have also been rising, with their premium continuing to support the notion that large investors are adopting a “buy-and-hold” strategy when it comes to the benchmark crypto.

Bakkt incurs rising trading volume

Since Bakkt’s launch in late-2019, the platform has not been utilized by institutional investors at the rate many investors had anticipated. This trend may be starting to shift, however, as the platform has seen a notable rise in both its open interest and the trading volume for its monthly Bitcoin futures product. Read More...