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No One Has Traded Bitcoin Options on Bakkt for Over a Month: Deribit Continues to Dominate
Open interest for Bakkt's bitcoin options market has stayed at $0 since June 15.
Bitcoin options traders have completely deserted Bakkt, with its volume and open interest flatlining at $0 since June 15.
STORY CONTINUES BELOW
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- The Intercontinental Exchange's subsidiary launched its bitcoin options market in December 2019.
- Open interest for the exchange’s options market has suffered complete inactivity before, but the current 38-day streak dwarfs other periods.
- Bakkt's options volume has also dropped to $0 since April 23, according to Skew.
- Bakkt declined to comment when contacted by CoinDesk.
- The record for daily options volume in Bakkt is $528,000, set on January 8.
- According to Skew, 92% of bitcoin options trading volume is controlled by Panama-based exchange Deribit, which reported $101 million in volume Tuesday.
Zack Voell
Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.
