Bakkt’s active Bitcoin futures positions exceed $ 6.5 million for the first time
Together with themes, analyst Alex Kruger notes that market participants’ expectations of Bakkt as a platform, which will be used by large investors for accumulation of bitcoins did not come true. November delivery function cryptocurrencies used for acquisitions Total 17 BTC, in October – 15 BTC.
“Some believe that Bakkt’s volumes totally provided bitcoins. it at all not this way. Almost no one uses the physical supply, – writes Kruger. – It’s not a problem. It is normal for futures traders not to receive delivery, in any asset. But Bakkt is not a panacea. Bakkt Futures – this paper contracts offering physical delivery. Futures are not backed by bitcoins. Traders use margin and should have collateral (fiat) “.