Bakkt’s Bitcoin Futures Launch Postponed to January Next Year
The much-awaited Bakkt’s Bitcoin Futures launch has been postponed to January 24th, 2019, initially it was scheduled to launch on December 12th this year.
Bakkt which is company backed by ICE (Intercontinental Exchange) who owns the New York Stock Exchange had announced in August the formal launch of the regulatorily approved product to launch in December. There is a lot of hype and expectation from this product because unlike CME futures these are Physically settled Futures with 100% Bitcoin backing plus ICE is one of the most reputable market makers in the US.
CEO Kelly Loeffler made the announcement in a Medium post detailing about how they are putting all the pieces together for a big launch and are listening to their customers who are very interested in the product that they will be launching.
“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval.”
The post also highlights that some new features are to be added to their offering including insurance for both the wallers in cold storage and warm wallets.
“We’ll share more about some of these new features in the coming weeks but as a start, I’m pleased to announce that we have insurance for bitcoin in cold storage and are in the process of securing insurance for the warm wallet within the Bakkt Warehouse architecture”
Many of the Crypto enthusiasts are bullish on the launch of Bakkt and are anticipating a rise in price after the launch as it will open up doors for institutional investors to get a piece of the Bitcoin cake.
In other news, three of the largest Crypto OTC desks have banned together to launch a Bitcoin Index to serve as a reliable source of price discovery for the VanEck Bitcoin ETF.
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