By the way, does anyone know the Bakkt pricing mechanism? How is the problem of protection against price manipulations to which some cryptocurrency exchanges exposed? Why the price for now is 9787.5$, not 5000$ or 15000$? I tried to find information about this and to no avail.
Nothing can be protected by manipulation, so Bakkt will also be subject for it if not actually the ones manipulating it.
AFAIK they opened the market at an average price based on a few exchanges, what mechanisms they have to protect against this so-called manipulation probably the same thing from their other products apply, I haven't managed to find anything specific.
But as long as there is no tether involved, no CFD, the impact should be minimal compared to what we have seen before, and this is the only thing I like about them if they will really act this way and they do have the real bitcoins in their "warehouse". So, the lesser of two evils.
i think a contract is 10 btc, so 28 =280btc
https://www.theice.com/products/72035483Quote
Contract Size
1 Bitcoin
1 Bitcoin
So no, it's 1 bitcoin.
Funny fact, with that volume Bakkt's usd/btc pair would be below place 341 on CMC.
and the exchange itself on 131.