Bakkt now plans to offer cash-settled bitcoin futures; looking to beat rival CME Group

Bitcoin • November 13, 2019, 5:45AM EST
UPDATED: November 13, 2019, 10:26AM EST
The Block

Bakkt, a provider of physically-settled bitcoin futures contracts, is now planning to offer a cash-settled version of the product due to customer demand.

“We have the intention of offering a cash-settled contract as well,” Bakkt chief operating officer Adam White told at the Invest: NYC conference on Tuesday.

Bakkt, a subsidiary of Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, could offer cash-settled bitcoin futures via ICE’s Singapore unit, ICE Clear Singapore. But the product will be accessible worldwide.

Bakkt is reportedly in discussions with the Monetary Authority of Singapore, the country’s central bank and financial regulatory authority, to offer the planned product.

Currently, derivatives exchange giant CME Group is the only provider of cash-settled bitcoin futures contracts. Bakkt is not only looking to beat rival CME on the cash-settled product, but also bitcoin options contracts. CME has been preparing to launch an options product tied to its bitcoin futures on Jan. 13, while Bakkt is planning to launch its options contracts on Dec. 9.

About Author

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on

More by Yogita Khatri