Bakkt trading platform prepares to work with retail investors

Trading volumes on the cryptocurrency trading platform for institutional customers of Bakkt so far leave much to be desired. However, the company is already preparing to work with retail investors.

For the first day of trading on the Bakkt platform, 71 contracts were concluded on a monthly futures contract and only 2 contracts on a daily one. Thus, the trading volume for the first day amounted to about $ 710,000. However, Bakkt operations director Adam White does not lose optimism, especially since it is planned to provide access to the platform and retail customers.

“Bakkt is truly made for institutional investors, which is why we offer futures. But we expect our product to be available at retail brokers, so regular traders will also have access to it, ”White said. interview on the CNN channel.

Note that, on the Bakkt platform, monthly bitcoin futures are available a year in advance. That is, traders can predict the price of the first cryptocurrency for 12 months.

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“This is important not only for speculation, but also for a business that relies on the price of bitcoin, for example, for mining companies. Such companies want to hedge their risks, so we think these contracts are ideal for them, ”said White.

Over the past two months, trading volumes in both the derivatives and cryptocurrency futures markets have declined markedly. It was expected that the launch of the Bakkt platform will stir up the market and push the price of the first cryptocurrency up, however, trading volumes on the site are still lower than expected and the bitcoin rate is also declining. At the time of publication, the price of the first cryptocurrency is at $ 9,750.