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Cryptocurrency Derivatives Series: Bakkt Hints New Release Day of Physically-Settled Bitcoin Futures
The new cryptocurrency start-up, ‘Bakkt’ established by the Intercontinental Exchange (ICE), was all set to launch bitcoin futures contracts with physically delivery facilities.
Well, the objective is to offer new tracks especially for institutional clients and retail traders to make access for cryptocurrency trading.
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.
The launch of ICE’s Bakkt (physically settled-BTC futures) now awaits CFTC’s green signal. While Bakkt has now given new hints of release day, in an announcement on Medium Blogspot.
Kelly Loeffler, the CEO mentions “as we work through regulatory approvals, we are mindful that the infrastructure we are building has the potential to create more opportunities for digital assets to grow in relevance and trust — by being more secure, investible and useful.
As a former marathoner, this point in time recalls the stage in the training regimen when you’re putting in long runs with your training team. Race day is approaching, and there is more work to be done. I’m proud to be going the distance with this growing team and of the culture we are building while bringing digital assets into the mainstream economy.”
The Intercontinental Exchange appears to be on a quest to make Bitcoin investing easier. The company is said to be in advanced discussions with the US CFTC regarding the launch of physically settled Bitcoin futures.
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at -133 levels (which is highly bearish), hourly USD spot index was at -71 (bearish) while articulating at (09:46 GMT).
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