The new cryptocurrency start-up, ‘Bakkt’ established by the Intercontinental Exchange (ICE), was all set to launch bitcoin futures contracts with physically delivery facilities, but for now, The launch of ICE’s Bakkt (physically settled-BTC futures) awaits for the United States Commodity Futures Trading Commission’s green signal. While Bakkt has now given new hints of release day, in an announcement on Medium Blogspot.

ICE, which is the parent of the NYSE, originally intended to unveil Bakkt back in mid-December. Then it was deferred to late January’2019. Later on, the launch was again deferred indefinitely due to the US shutdown.

Well, the objective is to offer new tracks especially for institutional clients and retail traders to make access for cryptocurrency trading.

CFTC Chair, Mr. Christopher Giancarlo hasn’t discussed any details of the project, but his general stances about crypto regulation hint at what hinders Bakkt languishing. Some sort of the concerns seems to be the firm’s objective to custody its own bitcoin, and clear trades through its parent company’s clearinghouse.

Christopher Giancarlo also pointed at the recent traction of interests" in the cryptocurrencies will likely drive the fresh applications for clearinghouses.

He explicitly stated in his recent testimony to the House of Representatives Committee on Agriculture Subcommittee on Commodity Exchanges, Energy and Credit in Washington, D.C.:

“The Commission anticipates new applications for clearinghouse registration resulting from the explosion of interest in cryptocurrencies; an area in which protection of the cryptocurrencies will be one of the highest risks.”

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -19 levels (which is mildly bearish), while hourly USD spot index was at 6 (neutral) while articulating (at 13:46 GMT).

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