Bakkt futures and custodial exchange traded 50 BTC (~$400,000) in daily futures contracts during its second week of trading, a significant decline from its opening week, as reported by WSJ.
$5.8 million was traded on Bakkt, which was created by the Intercontinental Exchange, during its first week. The following week traders moved but $2 million. That is just $400,000 daily trading volume.
The Bakkt Volume Bot shows that Bakkt lost about two-thirds of its trading volume, as highlighted by BeinCrypto.
Meanwhile, while Bitcoin Futures Volume on CME from August to September seemed to be growing, with approximately 14,000 CME contracts on September 24th, as reported by AMBCrypto. CME BTC futures markets followed the decline in the Bitcoin price, which took place the day after the Bakkt launch. The day after 8000 contracts were traded on CME and BTC fell double digits down to $8,200 for the first time in 90 days. Skew markets suggest that open interest for CME Bitcoin Futures were down by 50 percent since the final quarter of 2019. In early July, open interest on Bitcoin was more than $350 million with higher volumes along with the contracts.