Fueled by bitcoin’s rise, Bakkt reports record high volumes for its bitcoin futures market

Bakkt just reported the largest single-day volumes for its physically-settled monthly bitcoin future contract. On Monday, the Bitcoin futures market, saw a new all-time daily high of 11,509BTC, an amount worth nearly $114M based on the closing bitcoin price as reported by CoinMarketCap.

As shown in the volume chart below, Monday's figure represents a significant spike in activity compared to recent weeks. The last such spike took place in May. Today's record-setting day was an 84% increase from its last all-time high in December 2019.