Galaxy Digital and XBTO make 1st block trade of Bakkt Bitcoin futures

posted 5 months ago
Cryptocurrency investment fund Galaxy Digital and over-the-counter (OTC) trading firm XBTO conducted the first-ever block trade of Bakkt’s bitcoin futures contract. Intercontinental Exchange (ICE), Bakkt’s parent company, announced the trade but did not disclose its size. A block trade is a large transaction that takes place off the open market in order to avoid moving the price too much.

Galaxy Digital and XBTO expressed confidence in the platform. “As the digital asset class continues to mature, we view the launch of Bakkt as a foundational piece of market infrastructure,” Galaxy Digital said in ICE’s press release. XBTO said in the release that it bought the first bitcoin daily futures last week, in addition to participating in the block trade.
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