Cryptocurrencies fall after the lackluster launch of a futures contract

Bitcoin and other major cryptocurrencies fell in Asia after a lackluster launch of the Bitcoin futures contract.

Bitcoin lost 2.6% to $9,733.7 by 1:20 AM ET (05:20 GMT).

The digital coin climbed higher earlier in the day following the official launch of Bakkt’s much-anticipated Bitcoin futures.

However, while the launch was considered a “significant milestone” for the cryptocurrency industry, it did not receive as much attention as initially expected, and the Bitcoin trading volume was lower compared to other major crypto exchanges.

Other significant cryptocurrency prices also traded mostly in the red that day.