Cryptocurrencies

No One Has Traded Bitcoin Options on Bakkt for Over a Month: Deribit Continues to Dominate

Bakkt open interest for bitcoin options since June 1

Bitcoin options traders have completely deserted Bakkt, with its volume and open interest flatlining at $0 since June 15.

  • 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.

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