Trading of Bakkt’s bitcoin futures contracts has been minuscule. Bitcoin’s price has fallen about 19% since Bakkt’s launch, trading Monday morning around $8,167, according to CoinDesk. Futures let traders bet on whether an underlying market—such as oil, gold, stocks or bitcoin—will rise or fall. Then there is the problem that bitcoin is unlike any other asset class and can’t be valued using standard methods. CME’s bitcoin futures contract launched in December 2017—at the height of the cryptocurrency bubble—and has fared decently.

Source: Wall Street Journal October 07, 2019 14:04 UTC