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Bakkt is looking to beat CME to the punch on options tied to bitcoin

Frank Chaparro

Intercontinental Exchange’s cryptocurrency venture Bakkt is eyeing the launch of an additional derivative tied to the bitcoin market, according to several sources with knowledge of the firm’s product roadmap. 

Bakkt, which launched its long-awaited contract for physically delivered bitcoin futures in September, is aiming to add bitcoin options to its product suite, according to sources. The firm, which is led by former ICE marketing executive Kelly Loeffler, is hoping to beat rival CME Group, which said last month that is launching its own option contract tied to the cryptocurrency in Q1 2020. One source said the firm has been “hyping up” the options to market makers for the past few weeks.

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