Record-high Bakkt Bitcoin delivery exposes institutional frenzy for BTC

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It is operated by Intercontinental Exchange, the moms and dad business of the New York Stock Exchange.When the volume of the Bakkt Bitcoin futures market increases, which physically settles Bitcoin agreements, it usually demonstrates growth in institutional appetite for digital assets.CME, LMAX Digital, and Bakkt volumes reveal the institutional Bitcoin market is growing rapidlyBTC futures volume by exchange. Source: SkewSince LMAX Digital mainly facilitates trades for institutions, the exchange surpassing Coinbase illustrates the existing institutional landscape of Bitcoin. Considering that Oct. 2, following the month-to-month expiry for September, CMEs Bitcoin open interest rose from $345 million to $561 million.CME Bitcoin futures open interest. Source: SkewIndustry executives see institutional growth as a positiveIndustry executives and high-net-worth financiers in the cryptocurrency market expect the trend of rising institutional cravings for Bitcoin to continue.Tyler Winklevoss, the billionaire Bitcoin financier and the co-founder of Gemini, said Bitcoin is progressively evolving into a business treasury asset.When MicroStrategy announced that it acquired $425 million worth of BTC, the company emphasized that it considers BTC as the firms main treasury property.

It is operated by Intercontinental Exchange, the moms and dad business of the New York Stock Exchange.When the volume of the Bakkt Bitcoin futures market increases, which physically settles Bitcoin contracts, it usually shows growth in institutional appetite for digital assets.CME, LMAX Digital, and Bakkt volumes show the institutional Bitcoin market is growing rapidlyBTC futures volume by exchange. Given that Oct. 2, following the regular monthly expiry for September, CMEs Bitcoin open interest increased from $345 million to $561 million.CME Bitcoin futures open interest. Source: SkewIndustry executives see institutional growth as a positiveIndustry executives and high-net-worth investors in the cryptocurrency market expect the pattern of increasing institutional appetite for Bitcoin to continue.Tyler Winklevoss, the billionaire Bitcoin investor and the co-founder of Gemini, stated Bitcoin is progressively evolving into a corporate treasury asset.When MicroStrategy revealed that it acquired $425 million worth of BTC, the business emphasized that it thinks about BTC as the firms primary treasury property.

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