Highlights
- Bakkt’s physically settled Bitcoin (BTC) futures
trading is now live for trading - The platform offers daily and monthly trading
of physically settled Bitcoin futures, to be processed through Bakkt’s Bitcoin
Warehouse - Bakkt comes as a move to get in institutional
investors into the crypto market
Many cryptocurrency leaders say that 2019 might be the year
when institutions will enter the cryptocurrency market. Institutions might
bring a new wave of adoption.
Bakkt’s physically settled Bitcoin (BTC) futures
trading is now live for trading on the Intercontinental Exchange (ICE). The
platform is the first of its kind to receive approval from United States
regulators and is a product of ICE, the operator of the New York Stock
Exchange.
While news of Bakkt’s launch and intention to facilitate BTC
futures trading broke over a year ago, the platform itself has seen numerous
delays owing to regulatory concerns. On Aug. 16 of this year, Bakkt announced
that the company had secured approval from the U.S. Commodity Futures Trading
Commission (CFTC) and had scheduled today as the first day of trading.
The platform offers daily and monthly trading of physically
settled Bitcoin futures, to be processed through Bakkt’s Bitcoin Warehouse,
which began processing withdrawals and deposits at the beginning of September.
Days later, Bakkt announced that they had secured a $125 million insurance
policy protecting Bitcoin stored in their warehouse.
Bakkt’s platform has been the subject of a great deal of
speculation and anticipation. Many commentators believe that physically
delivered futures trading of BTC represents a leap forward for institutional
acceptance of Bitcoin in particular and crypto in general.
The post Bakkt has Finally Launched the Bitcoin Settlements appeared first on Cryptoverze.
