Bakkt Is About To Get Approval For Bitcoin Futures Contract

2018-12-21 14:56

For some time now, Bakkt has been working round the clock to achieve its primary objective of launching a credible and approved Bitcoin futures contract platform. However, that hasn’t happened yet as the planned launch slated for December 2018 was later pushed to January 2019.

Putting Pieces In Place

According to the company’s CEO, Kelly Loeffler, the delay was mainly due to the unfinished work in preparing for the eventual launch. The futures contract is provided by NYSE’s (New York Stock Exchange) ICE (Intercontinental Exchange) and is expected to be approved by the CFTC (Commodity Futures Trading Commission).

Through this arrangement, the ICE will list the Bakkt Bitcoin for trading in USD on a daily basis starting January 24, 2019. A CFTC approval is expected to have come through by then.

Regulatory Framework

Bakkt has been liaising with the regulatory body to ensure that the exchange meets all the required thresholds before approval. For example, CFTC has limited the amount of Bitcoins the exchange can hold for a customer. Besides that, there are other issues to look into, including the exchange’s liability in compensating customers in the event of a hack as well as the absolute security of the investors’ funds on the exchange. This seems to be different from how other crypto exchanges work. As a matter of fact, most crypto exchanges don’t compensate investors when a hack happens, and the few who do only compensate a fraction of the lost funds.

The idea of Bitcoin Futures was first brought into the market by cboe (Chicago Board Options Exchange) back in December 2017. It has since enticed the market well into the space of other financial institutions. Currently, Nasdaq is also looking to launch its own Bitcoin futures in early 2019. To this end, Nasdaq has also been working with the regulatory body to get its business plan approved.

Possible BTC Outlook

To many speculators, the introduction of a legally approved Bitcoin futures trading platform would very likely disrupt the market and send the bulls on a run. That would culminate into a market-wide bull run, given that Bitcoin’s market trends have been known to influence many other cryptos.

The post Bakkt Is About To Get Approval For Bitcoin Futures Contract appeared first on ZyCrypto.

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futures bakkt bitcoin contract get approval pushed

Источник: zycrypto.com

futures bakkt → Результатов: 70


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Bakkt Delays Platform Launch; Announces January as Tentative Roll Out Date

Bakkt, an upcoming crypto retail payment system and futures platform, is delaying its launch to better ensure the platform’s success at release. On November 20, 2018, the CEO of Bakkt released an update on Medium, outlining the future business plans for the company, describing some of the progress in implementing new features and declaring that the company’s initial launch is being postponed until January 24, 2019.

2018-11-21 02:24


Intercontinental Exchange’s Bakkt Bitcoin Futures Platform Delays Launch, Jan 24, 2019 as New Date

Bakkt, a cryptocurrency exchange created by ICE, the Intercontinental Exchange, has recently announced that it would delay its plans to launch its Bitcoin futures business. According to the update of the company, the first product of Bakkt, which would have been originally unveiled in August, will now be launched on January 24, 2019, instead of […]

2018-11-21 01:22


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