Bakkt Launch Next Month: A BTC crash ahead?

Bakkt has announced that it has got the green light from U.S Commodity Futures Trading System to launch bitcoin futures. Now Bakkt warehouse will provide custody bitcoin fo physically delivered bitcoin futures. The company announced to launch its new services on 23rd September. Kelly Loeffler announced that the Bakkt’s bitcoin futures would be exchange-traded on ICE Futures U.S and cleared on ICE Clear U.S.

Kelly wrote in a blog post that Bakkt Warehouse would provide regulated and secure custody of bitcoin that is protected by $125 million in insurance. She also added that to provide a trusted ecosystem, they will include an institutional compliance and anti-money laundering program. She believes that the current market is retail oriented, and they want to fill the gap between retail and institutional trading with their new service.

Bakkt initially intended to launch its futures contracts in December last year, but they had to postpone the launch many times since then because of regulatory reasons. Kelly added that Bakkt bitcoin futures contracts would not rely upon unregulated spot markets for settlement prices. She also mentioned that Bakkt Warehouse, which is part of Bakkt Trust Company, is built using the cyber and physical security protections that support the world’s most actively traded markets, including the NYSE. Read More at CoinOunce...

#BTc #Bakkt #Futures