Bakkt’s Slow Start Doesn’t Mean Bitcoin Futures Have Flopped

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It’s a lively time for bitcoin derivatives – or at least for those writing about them. For those trading them, it may be business as usual.The Chicago Mercantile Exchange (CME) announced Friday it is preparing to offer options trades on its bitcoin futures contract. It’s a surprising move, because options volume to date rounds to zero, as a percentage of reported volume in futures and swaps.The announcement gives CME a way to offer options without having to build much anew. Why should it? CME’s bitcoin futures market represents a tiny percentage of its overall volume.

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