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.
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