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.
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.