Setting the standard for institutional crypto markets.
By combining Bakkt’s enterprise-grade bitcoin custody offering with Intercontinental Exchange’s federally regulated futures exchange and clearinghouse, the Bakkt™ Bitcoin Futures and Options contracts offer a fully regulated marketplace for the price discovery of bitcoin. These contracts help support the hedging and risk management requirements for a broad range of institutional market participants.
The Bakkt Warehouse:
Custody at our core
The Bakkt Warehouse is comprised of both online (“warm”) and offline, air-gapped (“cold”) digital asset storage. Bakkt rebalances between warm and cold storage tiers to minimize risks associated with warm storage. To further protect our customers, Bakkt’s warm and cold wallets are covered by a $125,000,000 insurance policy from a leading global carrier. Bakkt also works with one of the largest custody banks in the world, BNY Mellon, as part of its digital asset safekeeping process.
The Bakkt Warehouse supports the physical delivery of bitcoin futures, and is also available for institutional custody services for bitcoin storage outside of futures markets.
Dual Warm + Cold Wallet Structure
- Majority of assets stored offline in cold wallets
- Insurance policies for cold and warm wallets
- Extensive physical security, including bank-grade vaults
Secure Wallet Architecture + Storage
- Multi-signature transaction signing
- Shamir's Secret Sharing for key sharding
- Hardware security modules (HSMs) to secure and authenticate keys
Comprehensive Cybersecurity Program
- Mandatory two-factor authentication (2FA)
- IP address and withdrawal address whitelisting
- Regular operational and security audits
Fully regulated end-to-end:
Bakkt Bitcoin Futures & Options
Bakkt Bitcoin (USD) Physically Delivered Daily & Monthly Futures
- Listed on ICE Futures U.S. and cleared by ICE Clear U.S.
- Settlement price does not rely on the unregulated bitcoin spot market
- Margined daily and monthly contracts with ability to go to physical delivery prior to expiry
- Delivers to the Bakkt Warehouse, which is operated by Bakkt Trust, a qualified custodian and limited purpose trust company regulated by the New York State Department of Financial Services (NYDFS)
- Available on ISVs and WebICE
Bakkt Bitcoin (USD) Monthly Options
- Listed on ICE Futures U.S. and cleared by ICE Futures U.S.
- Settles into the underlying Bakkt Bitcoin (USD) Physically Delivered Monthly Futures contract two days prior to the last trade date of the underlying futures contract
- Limited strikes for the front three monthly futures contracts
- Bakkt Bitcoin (USD) Daily Futures (BTC)
- Bakkt Bitcoin (USD) Monthly Futures (BTM)
- Bakkt Bitcoin (USD) Monthly Options (BTM)
Bakkt Bitcoin (USD) Cash Settled Monthly Futures
- Listed on ICE Futures Singapore and cleared by ICE Clear Singapore
- Settles on the price of the Bakkt Bitcoin (USD) Physically Delivered Monthly Futures contract
- Offers market participants a cost-efficient tool to hedge or to gain exposure to bitcoin without the need for physical delivery, or reliance on the unregulated bitcoin spot market