Bakkt has been trumpeted as a future main driver of crypto institutional adoption and even the bull market. The bitcoin futures exchange boasts everything Wall Street firms are looking for – the promise of uncorrelated returns to the stock market plus the confidence of regulatory oversight. But in case you haven’t noticed, Bakkt hasn’t launched yet. This is about to change, increasing the chances that the 2019 bitcoin bull run has just gotten started.
The Bakkt launch has taken longer than many in the crypto community expected, but the wheels are in motion. On July 22, “user acceptance testing (UAT) is scheduled to begin,” according to the exchange. Meanwhile, a Fundstrat research report reveals,
“Bakkt’s launch is expected late in the current quarter.”
And this could very well be when the sidelined capital finally makes its way into the market. Fundstrat Quant Strategist Sam Doctor tweeted:
“Bakkt could be a huge catalyst for institutional participation in the crypto market.”