Bakkt announced on Oct. 24 that it will be launching the first regulated options contract for bitcoin (BTC) futures on Dec. 9.
According to Bakkt, the key features of the Bakkt Bitcoin Options contract include capital efficiency, cash or physical settlement, European style option, low fees, as well as instant messaging, block trades and options analytics.
The new options product is based on customer feedback, explains CEO Kelly Loeffler and is designed to hedge or gain bitcoin exposure.
“ICE Futures U.S. has self-certified the contract with the CFTC and we’re excited to leverage the benchmark futures prices and institutional-grade custody to meet the needs for a regulated options contract.”
This story will be updated.