There is no physical delivery of Bitcoin, and settlement is in a fiat currency. This means that it isn't a bitcoin futures market, but just a speculation on the price of Bitcoin.
Bitcoin futures is a derivative of Bitcoin and most derivatives in the financial markets are not actually exercised, but are traded out before their expiry date. It offers some ways to hedge against market volatility and knowing how volatile Bitcoin can be, high net worth holders of Bitcoin cannot but embrace this instrument.