<p>Bitcoin futures market Bakkt just logged the largest single-day volumes for its physically-settled monthly bitcoin future contract. </p> <p>Volumes hit ~$37.45 million on Wednesday, passing its previous high of ~$19.96 million on November 22. The total volume of Bakkt’s monthly bitcoin futures now stands at $269.64 million (33,036BTC) since the market launched on Sept. 23. The average volume has been ~$5.62 million (688.25 BTC) a day over the last 48 trading days. </p> <figure class="graf graf--figure"><img class="graf-image" src="https://cdn-images-1.medium.com/max/1600/1*eIWWjLrLRahrfiolkIuCGw.png" data-image-id="1*eIWWjLrLRahrfiolkIuCGw.png" data-width="2688" data-height="1172" /></figure> <p>The break-neck growth of the market was predicted by CoinRoutes CEO Dave Weisberger, who noted some markets experience "hockey stick growth."</p> <p>"There's an old expression: liquidity begets liquidity," <a href="https://www.theblockcrypto.com/daily/48373/bakkts-volumes-are-soaring-as-bitcoin-sinks-and-it-could-signal-impending-hockey-stick-growth">he told The Block on November 25</a>. </p> <p><span class="c-message__body" dir="auto" data-qa="message-text">In October, Bakkt rolled out a <a href="https://twitter.com/fintechfrank/status/1191327850483372033?s=20">liquidity incentive program</a>, which is awaiting approval from the CFTC. It could further fuel the growth of the new market. </span>The Intercontinental Exchange-backed venture is also looking to roll-out an options market tied to bitcoin in <a href="https://medium.com/bakkt-blog/bakkt-bitcoin-options-on-futures-to-launch-december-9-an-industry-first-8fb2bd686abb">December</a>. </p>