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While the cryptocurrencies still remained sluggish across the avenues despite getting quite a few constructive news flows from a keenly awaited blockchain start-ups, the new cryptocurrency start-up established by the Intercontinental Exchange (ICE), and is all set to launch bitcoin futures contracts which would be first physically delivery facilities.
Well, the announcement was confirmed in the recent past by ICE, that would offer new tracks especially for institutional clients and retail traders to make an access for cryptocurrency trading. ICE, which also operates the New York Stock Exchange (NYSE) released the latest specifics about this development.
Bakkt, ICE’s “regulated ecosystem” for institutional investors intending to obtain exposure in cryptocurrency-space, that will offer futures against at least three predominant fiat currencies: the U.S. dollar, British pound sterling and euro, according to a document released October 22nd.
ICE likely to list Bakkt Bitcoin (USD) daily futures contracts for trading on Dec. 12, 2018. This derivatives instrument would be physically-settled and cleared by ICE, as per the document.
It further elucidates:
“Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in U.S. dollar terms. One daily contract will be listed for trading each Exchange Business Day.”
While Bakkt further had clarified through tweeter in the recent past that “Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR,” “For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.”
Currency Strength Index: FxWirePro's hourly BTC spot index is showing -127 (which is bearish), USD spot index is flashing at 89 (which is bullish), while articulating at (06:37 GMT). For more details on the index, please refer below weblink:
