After Bitcoin futures on the ICE Bakkt platform surged by almost 800% in a day, reports emerged that it is seeking to jump ahead of the CME group to release a Bitcoin options contract.
The Bakkt launch is one of the most anticipated and talked about in the sector currently. We take a look at whether or not this means anything for Bitcoin at all.
Chris Kline, expert crypto enthusiast and COO of Bitcoin IRA, shares his insights into the nature of Bakkt platform explaining why this solution may be revolutionary for the whole cryptocurrency world.
The Bakkt digital assets platform, which was created by the operator of the New York Stock Exchange (NYSE), announced the creation of Bakkt in August of this year and now said that they are “targeting” Jan. 24, 2019 as a launch date.
Pending the regulatory approval from CFTC, the physically-settled Bitcoin futures on Bakkt is expected to go live on 12th of December.
Coinbase lost an essential team member as the former lead of institutional products, Adam White quits to join an intercontinental digital ecosystem.
Bakkt CEO said that the physically-settled Bitcoin futures contracts would be completely pre-funded while the facility of margin trading won’t be provided.
The wealth managing firm believes that SEC will take all its time it can, instead of falling for the market euphoria, and extend the decision till March 2019.
A Starbucks spokesperson said that they won’t directly accept digital token payments but will help their customer spend their holdings at the outlet.
Kelly says that the regulated and licensed Bakkt platform will provide an easy entry point for the arrival of institutional products like Bitcoin ETF.