Bakkt bitcoin futures daily trading volume hits record high
Trading volume in physically delivered bitcoin futures listed on Intercontinental Exchange's Bakkt platform surged to record highs on Tuesday.
The derivatives exchange traded record 15,955 contracts, worth more than $200 million. That's up 36% more than the previous lifetime high of 11,706 contracts on July 28, 2020.
Daily volumes have increased by more than 1,000% on a year-to-date basis, according to data source Skew.
Physically settled futures require bitcoin to be delivered on the specified delivery date rather than being traded out with offsetting contracts.
"Since we first launched Bakkt nearly a year ago, we've remained committed to expanding trust in and unlocking the value of digital assets," said Adam White, president of Bakkt, said in a press release.