Breaking: Bakkt announces launch of Bitcoin options contract in December

A day after Bakkt recorded its highest Bitcoin monthly futures trading, the platform announced that it would be taking another step ahead by launching Bitcoin options contract, which will be based on its Bitcoin monthly futures contract. The announcement was made on the official Medium blog post, with CEO Kelly Loeffler stating,

“The new contract is based on customer feedback and is designed to hedge or gain bitcoin exposure, generate income, and offer cost and capital efficiencies.”

The Bitcoin options contract will go live toward the end of this year on December 9, 2019. Moreover, the launch would also mean that Bakkt would become the first platform to launch a regulated Bitcoin options contract on Bitcoin futures. According to the post, ICE Futures US got a greenlight from Commodity Futures Trading Commission [CFTC] and would leverage its already existing Bitcoin futures prices and custody solutions.

Bakkt said on Twitter