07-23-2019 icon

Bakkt Finally Rolls Out Bitcoin Futures Trading

By Sagetwriter

Bakkt, the much anticipated Bitcoin (BTC) futures platform run by the Intercontinental Exchange (ICE), has officially begun delivery of BTC futures, after its initial testing in June.

Announced yesterday in an official tweet, the firm will begin user acceptance testing for bitcoin daily and monthly futures with participants from around the world.

According to Bakkt COO Adam White, he states:

On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its Bitciin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear U.S.

The COO also expresses optimism that the introduction of Bitcoin futures will encourage more institutional participation in cryptocurrency markets.

The news comes as a welcome development after initial delays regarding compliance to procedures by the US Commodity Futures Trading Commission (CFTC). At this time, reports suggest that a good number of adopters have set pace to join the platform.

The Bakkt platform is owned by ICE (the same parent company of the New York Stock Exchange), and aims to bring trust to digital assets through institutional grade, regulated custody and markets. Bakkt will offer a platform that allows customers to buy, sell, store and spend digital currencies.

It is believed that with this launch, more institutions will confidently get involved in the digital currency market, and hence benefit adopters and retail investors alike.

Read all about Bakkt (pronounced “backed”) here