Bitcoin futures trading volume insanely high: Are institutional investors joining?

A few days ago, even lean market figures haunted the media about the Bitcoin futures market. Bakkt had reportedly not traded a single contract since June 15th. This has changed abruptly since the Bitcoin outbreak a few days ago. On Monday, Bakkt announced a new daily record regarding trading volume via Twitter.

Very high volume
Converted, the 11,509 contracts traded (1 contract = 1 Bitcoin) correspond to a volume of around $ 130 million (Bitcoin price at $ 11,300). This roughly corresponds to the daily Bitcoin trading volume of the crypto exchange Bitfinex. According to the analysis platform Skew, the trading of all derivatives on regulated as well as unregulated exchanges combined exceeded $ 40 billion on Monday. This is a new high since the big price collapse in the crypto market on black Thursday in mid-March when around $ 50 billion bitcoin futures contracts were traded. All month earlier, total daily trading volume never exceeded the $ 15 billion mark. The sudden increase indicates an enormous demand. Most of the trading volume still comes from unregulated exchanges such as Huobi, Binance, OkEx, BitMex, Bitfinex etc. However, the daily record of Bakkt shows that regulated Bitcoin futures trading venues are also experiencing a strong upswing.