To the Moon: Bakkt Futures Are Coming Sooner Than You Think  

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Thu, 06/13/2019 - 19:07
Alex Dovbnya
The launch of Bakkt’s Bitcoin futures is among the most anticipated crypto events in 2019
To the Moon: Bakkt Futures Are Coming Sooner Than You Think  
Cover image via U.Today
Contents

Bakkt, the ICE-backed Bitcoin exchange, will begin testing its futures contracts on June 22, according to its COO Adam White’s recent blog post. This comes after a series of postponements that were caused by regulatory issues.

A significant step

As White points out, the company will start user acceptance testing just two days after the Apollo 11 moon landing.

The launch of Bakkt Bitcoin futures is also considered to be an event of paramount importance given that it will open a new alley for institutional investors who want to dip their toes into the cryptocurrency market.

This is no small step. This launch will usher in a new standard for accessing crypto markets,” White claims.

The difference between Bitcoin futures contracts offered by CME and Bakkt is that the latter are physically-delivered, which means that investors get Bitcoin instead of cash once their contract expires.

Related Bloomberg: Bakkt May Seek License from NY Regulators to Let Bitcoin Go Mainstream
Related
Bloomberg: Bakkt May Seek License from NY Regulators to Let Bitcoin Go Mainstream

Bitcoin’s next hope

As reported by U.Today, Bakkt officially postponed the rollout of its Bitcoin futures back in November to put ‘all the pieces in place.’ After that, the exchange struggled with regulatory approval due to the government shutdown.

Now, with Bitcoin being slightly above $8,200, ICE’s Bakkt could serve as a major catalyst for its future growth. If institutional money starts pouring it, the BTC price could easily reach a new yearly high.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.