Bakkt has traded only 7 BTC so far

[Wexnident]

This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.

How will Wall Street react to Bitcoin-settled futures?

https://www.instagram.com/p/B2vLp43pI2A/

Bakkt was surely disappointing on the first day but its effects were never expected to be seen on its initial launch! Bakkt effects on the market would gradually show throughout the weeks or months. It is a long term effect that we are looking for, not just a single day or a week lasting one but one that could last for years. A lot of people have had some misconceptions about how Bakkt could pump the price with its release which raised it too much high. Because of a lot of expectations, when it didn't perform as well as what people thought, they readily said that Bakkt was a disappointment and such but everything you expected was only hyped made by other people. Its path is just beginning so let us just wait for its progress instead of expecting it to suddenly pump with its launch.

[ChrisPop]

Today's Bakkt volume is around 7X times what it was when this thread was posted. You can obviously notice that the investors interest/participation is gradually increasing. Of course that 46 BTC is only around $400,000 which is nothing compared to the Bitmex 1.5 billion USD daily volume. But it's good to see it increasing. Maybe institutional are still a little bit afraid or maybe waiting for something 

Anyway I'm very bullish on it even if daddy Bakkt hasn't shown his powers yet.

[teosanru]

This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.

How will Wall Street react to Bitcoin-settled futures?

https://www.instagram.com/p/B2vLp43pI2A/

Exactly what I was pointing out since many days. The thing is no one is interested in Bitcoin futures than a few cryptocurrency enthusiasts and these enthusiasts prefer exchanges such as Binance & more importantly Bitmex where there is huge volumes and no need of KYC for any types of withdrawals. Moreover People expected a certain pump due to the Bakkt which didn't happen because of such weak response from futures. The most weird thing is that this decision was delayed numerous time and everytime it was delayed btc suffered a dump. So I think all this was not worth of what happened on Bakkt. Moreover if there is such a bleak response on Bakkt other exchanges will be pretty reluctant to start anything like this

[Kakmakr]

Today's Bakkt volume is around 7X times what it was when this thread was posted. You can obviously notice that the investors interest/participation is gradually increasing. Of course that 46 BTC is only around $400,000 which is nothing compared to the Bitmex 1.5 billion USD daily volume. But it's good to see it increasing. Maybe institutional are still a little bit afraid or maybe waiting for something 

Anyway I'm very bullish on it even if daddy Bakkt hasn't shown his powers yet.

Institutional traders PREFER to trade cash backed Futures, so it will take time for them to get used to asset backed Futures like the Bakkt offering. The price has also gone down, so they have not experienced a "pump" yet... you will see a sudden increase in the volume being traded on Bakkt, when we see a pump again. 

How many investment options do you know that experience a 20%+ pump in a price in a matter of days... and this is going to be the trigger for institutional investors when it happens. 

[partysaurus]

Today's Bakkt volume is around 7X times what it was when this thread was posted. You can obviously notice that the investors interest/participation is gradually increasing. Of course that 46 BTC is only around $400,000 which is nothing compared to the Bitmex 1.5 billion USD daily volume. But it's good to see it increasing. Maybe institutional are still a little bit afraid or maybe waiting for something 

Anyway I'm very bullish on it even if daddy Bakkt hasn't shown his powers yet.

thats a good sign of whats to come.
maybe give bakkt 1 year to really see the impact it has on the market, crypto market is in such a rush all the time,everything has to happen so fast or its a failure.

[kryptqnick]

Today's Bakkt volume is around 7X times what it was when this thread was posted. You can obviously notice that the investors interest/participation is gradually increasing. Of course that 46 BTC is only around $400,000 which is nothing compared to the Bitmex 1.5 billion USD daily volume. But it's good to see it increasing. Maybe institutional are still a little bit afraid or maybe waiting for something 

Anyway I'm very bullish on it even if daddy Bakkt hasn't shown his powers yet.

thats a good sign of whats to come.
maybe give bakkt 1 year to really see the impact it has on the market, crypto market is in such a rush all the time,everything has to happen so fast or its a failure.

I don't know, it still seems like a failure. Even if the interest will increase over time, it is not increasing remotely good enough to become a big thing. And I guess we can blame Bakkt for what's happened with Bitcoin's price. Maybe it's a good thing that Bakkt is failing, though. I really don't see how futures contracts can be good for Bitcoin. They are the very opposite of the free market. Futures mean that people agree about the buy/sell prices on a certain day in the future regardless of what the prices will actually be like. If people perceive Bitcoin through futures, they miss one of the most important things about Bitcoin.

[bitbunnny]

Today's Bakkt volume is around 7X times what it was when this thread was posted. You can obviously notice that the investors interest/participation is gradually increasing. Of course that 46 BTC is only around $400,000 which is nothing compared to the Bitmex 1.5 billion USD daily volume. But it's good to see it increasing. Maybe institutional are still a little bit afraid or maybe waiting for something 

Anyway I'm very bullish on it even if daddy Bakkt hasn't shown his powers yet.

thats a good sign of whats to come.
maybe give bakkt 1 year to really see the impact it has on the market, crypto market is in such a rush all the time,everything has to happen so fast or its a failure.

I don't know, it still seems like a failure. Even if the interest will increase over time, it is not increasing remotely good enough to become a big thing. And I guess we can blame Bakkt for what's happened with Bitcoin's price. Maybe it's a good thing that Bakkt is failing, though. I really don't see how futures contracts can be good for Bitcoin. They are the very opposite of the free market. Futures mean that people agree about the buy/sell prices on a certain day in the future regardless of what the prices will actually be like. If people perceive Bitcoin through futures, they miss one of the most important things about Bitcoin.

I also have the feeling that Bakkt is failure. Although it's still at the begininig the progress is not looking promising and the final effect will not be as many expected. And so far it certainly didn't push the Bitcoin price that was also part of expectations. But let's give Bakkt some more time before final conclusion.

[ILuckyGuyI]

This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.

How will Wall Street react to Bitcoin-settled futures?

https://www.instagram.com/p/B2vLp43pI2A/

It is really so sad. Bakkt has created a 'hype' among people but it couldn't be effective at all. It is even worse than other amateur platforms. I understood that we shouldn't be hyped for all news like this.

[oxgroth]

Omg bakkt is the biggest disappointment of this year

[Murat]

It's true that we had a lot of expectations towards Bakkt, but it requires a lot of time to get established in this platform so we don't expect from this platform too early. Bakkt has launched with a lot of initiatives towards Bitcoin's popularity and acceptance around the world, but it's also true that Bakkt has traded almost $400,000 which is around 46 BTC, although it's not enough to declare this one is going good but I think it will perform better with the time because you have to consider this market is not going well in recent time, price also falling down and people are trading less than what they did, so all the responsible not goes to the Bakkt, It is yet in the early stage and doing good day by day.

[btc_angela]

Omg bakkt is the biggest disappointment of this year

Oh well, we really hard to understand that Bakkt is not the catalyst for the eventual bull run that we all wanted to see. I would agree that it was a bit disappointed, however, it's not yet over. I mean it just started maybe when we enter a bull run similar to 2017 we might see Bakkt gain momentum. But for now, we can't really do anything, but to wait a little longer, it's too early to say the positive effect on the market.

[BitHodler]

Omg bakkt is the biggest disappointment of this year

It did disappoint, but it's not only Bakkt we should blame for this, but also the many perma bulls here who kept telling others how much impact it would have on the market the moment it goes live.

If you think logically, there isn't much latent retail or institutional demand. Retailers already know where to go to buy spot Bitcoin, and institutions already know that they are well served by the CME when it comes to monthly futures.

The CME also announced options trading, which means that there is even less incentive to use something like Bakkt. It could be that the volumes pick up later on, but I really doubt it. Bakkt's volumes keep declining.

[gaston castano]

pretty good start in my opinion but will leave controversy people will say how a large exchange or one that is expected to have a small turnaround at the start of his release one would assume another popular exchange is superior far from bakkt with a daily turnover of hundreds of millions of $, but that is just the beginning we did not will know what happens in the future, isn't the BTC at the beginning of the release considered worthless.

[Kemarit]

For those interested to follow their volume, here is a bot:

(https://twitter.com/BakktBot)

∙ Today's volume so far: 48 BTC
∙ Last traded price: $7,965.00
∙ Trading day progress: 55%
∙ Today's forecast: 88 BTC
12:02 PM - 16 Oct 2019

So I don't know if we can consider this a good sign, long way to go for Bakkt to really affect the price of Bitcoin in the positive way. I think the hype has died down already, unless some actors decided to pour huge money and try to play the market, Bakkt will continue to grind day-to-day, IMHO.

[Pearls Before Swine]

I think the hype has died down already, unless some actors decided to pour huge money and try to play the market, Bakkt will continue to grind day-to-day, IMHO.

The hype has quite definitively died down, and I haven't seen many Bakkt threads being bumped lately.  Seems very much like it flopped and that the big wall street players aren't interested in speculating in bitcoin.  It does make me wonder who exactly is using it.

Grind is precisely what Bakkt is doing but this could change.  You know what?  If bitcoin starts to increase in value and forms an upward bull trend, traders might start wanting to get in on the action, and instead of buying actual bitcoin they'll use Bakkt's derivatives.  It's still kind of early to tell if all of this was a disaster, so I'm going to keep watching.

[Wintersoldier]

This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.

How will Wall Street react to Bitcoin-settled futures?

https://www.instagram.com/p/B2vLp43pI2A/

Easy, man, this is not the time to draw hasty conclusions after several hours from the start of the Bakkt service. And yes - there is no rush demand.

in fact, almost every project in cryptospace is considerably sufferring in the beginning. There's no project that booms after it is just get released. Even bitcoin which started all of it suffered way back 2011, hopefully, a good marketing strategy and platforms yields its success. Let this be an inspiration and a standard in viewing projects holistically. A success will be achieve slowly, but surely.

[Mandoy]

In the link you have given on Instagram there was no mention of   7 btc being traded. The only thing mentioned is this:

 " At 8:02pm EST, the first Bitcoin futures contract was traded at a price of $10,115 per BTC.
⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
How will Wall Street react to the launch of Bakkt’s Bitcoin futures exchange and ICE’s ‘moonshot bet’?"

https://www.instagram.com/p/B2vLp43pI2A/

I hope you can place the link where you derived the figure which is 7 btc. At the moment I guess Wall Street will not really mind since Bakkts's bitcoin futures exchange volume has just started. But if the volume will increase and the number of users/investors at Bakkt then that will be the time when wall street will be threatened and possibly will launch its own bitcoin futures.

[Kyraishi]

This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.

How will Wall Street react to Bitcoin-settled futures?

https://www.instagram.com/p/B2vLp43pI2A/

This doesn't really showcase proof of how much has been traded, and it's Wall Street so who would really be so fast to get some BTC. Let's have some patience.

It's died down for sure though, over the last month it seems like no one just really cares about Bakkt anymore, and no one in wall street really enjoys speculating into BTC.

[metallica101]

This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.

How will Wall Street react to Bitcoin-settled futures?

https://www.instagram.com/p/B2vLp43pI2A/

See, that's the problem with hype — everyone expects that the new thing will magically solve all of the problems or be a major success right off the bat. It took BTC 9 years to reach 20k, it didn't do it within a month. Similarly, just because Bakkt got launched, it doesn't mean that institutions would just rush over and start throwing their money into crypto space. The fact that any trading has been done so early on is a pretty good start. There were no incidents, which is also good. Now, let the hype die down, and let institutions slowly tra to experiment with the exchange, one $ at a time if need be.

[Reatim]

I have the feeling that users have to high expectations from Bakkt but at the end they might get disappointed.
It's only the begininig but and it takes some time to see the effects but I don't think that will influence Bitcoin significantly. Still I wouldn't like to make conclusions at the moment, let's wait a while.

Bakkt platform will have an impact on the bitcoin but this is not going to happen in days or weeks.  In the coming months the Bitcoin will be more stable only because of bakkt.
One thing more which I would like to add here is that Bitcoin would have dump to 6000$ again but maybe it is because of the bakkt investments it is not dumping and stable at $8000. We cannot ignore the bakkt factor.

Same as what I understand,the problem about BAKKT is being expected to bring Fortune to everyone in which resulted to mass expectations.
This is the reason why it brings nothing but failure,some take advantage of the situation and added more negative effect

But if will look at this in the long run?we can find the true value why BAKKT is created and just like everything in this market all starts from zero ,even bitcoin took years before being supported so let’s just wait and don’t rus about matter