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The BAKKT company officially starts trading of Bitcoin futures

The BAKKT company officially starts trading of Bitcoin futures
October 23
17:01 2018

The ICE‘s backed start-up, BAKKT published a press release, stating they will officially list Bitcoin Futures starting from 12th of December.

It’s not a secret that for many crypto enthusiasts the BAKKT start-up is seen as the gateway for institutional adoption. The company created and backed by the NYSE promised to be the first gateway for institutional investors, offering a variety of different services. For many people, the platform will be the main trigger of the next bull run.

As previously stated, their futures trading is the first step from a bigger plan for introducing digital ETFs, mutual funds and pension funds. So it comes with no surprise that their recent announcement was met with enormous excitement and positivism from the majority of the crypto enthusiasts.
ICE – the giant company behind BAKKT, announced:

ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on Wednesday, December 12, 2018. The Bakkt Bitcoin (USD) Daily Futures Contract is a physically-settled daily futures contract for bitcoin held in Bakkt LLC, ICE’s Digital Asset Warehouse, and will be cleared by ICE Clear US, Inc. 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.

What does this mean for the crypto world?

This means that BAKKT will be an actual operating company from the beginning of December. The BAKKT platform will go live initially with Bitcoin Futures, which will be traded without leverage or margin. According to them, this will ensure a more transparent price formation and emphasize market integrity. Moreover, the company will physically back all traded Bitcoin futures, cleared by ICE Inc. and held by the Bakkt Digital Asset Warehouse. This essentially means that every trade made on the platform will be tightly connected with the daily Bitcoin volume and should generate price spikes.

The announcement also means, that their platform creation is running smoothly and the promised features are not that far away in the future. For many speculators, the ETFs they are planning to introduce is planned for a launch in the first months of 2019. Yet, nobody owns a crystal ball so let’s just sit tight and wait.

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2 Comments

  1. Sonshaz
    Sonshaz October 23, 18:02

    Moon mission is imminent with this news…Thanks alot!

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