Bakkt launched an options product to be traded on the Intercontinental Exchange. If you would like a breakdown of the product click here.

On this monumental day Trabue Bland, President of ICE Futures U.S said:

Based on our benchmark physically delivered bitcoin futures, these options contracts offer our customers a capital-efficient new tool for trading and for managing volatility, price risk and income generation

Bland noted that the options contract could help traders manage risk in the volatile asset class.

Josh Lim, Head of Trading Strategy at Galaxy Digital Trading also commented:

We believe the development of the institutional market infrastructure leads to deeper liquidity in digital assetss

The advent of centrally-cleared bitcoin options on a regulated U.S. exchange is a major milestone for this market.

Paul Eisma, Head of Trading, XBTO stated:

By launching bitcoin options at a major board of trade, ICE and Bakkt are providing invaluable instruments that professional investors and commercial hedgers need in order to properly manage risk in a rapidly maturing asset class. XBTO supports the evolving growth in non-linear institutional trading products coming to digital asset markets

The clear aim for Bakkt is to bring more institutional players into the marketplace and it seems that XBTO and Galaxy are both very happy with the current developments.

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