Bakkt Bitcoin Futures are on the verge of approval by CFTC
Home News Bakkt Bitcoin Futures are on the verge of approval by CFTC
Marcel Knobloch –
The Intertcontinental Exchange Inc. (ICE) is working on the first Bitcoin Futures directly in crypto-currencies to pay off. Currently, all necessary regulations and requirements are tested in collaboration with the CFTC in order to obtain the beginning of 2019 approval.
Bakkt is considered to be the great hope among many crypto investors, a new crypto-spring launch, and the rates are going up to see. The stock exchange announced recently that the inserted Bitcoin Futures work in the same way as the existing Future products, however, after the termination of the term of this directly in Bitcoin instead of Fiat currency paid out.
The report by WSJ says that the application is still a fine cut, this should be launched as quickly as possible in 2019. Kelly Loeffler, CEO of the ICE, that the approval of this application brings a new confidence to the crypto market and investors, since Bitcoin is in a regulated space for investors to access (freely translated):
If digital Assets have more confidence and regulation, it will be easier for people to use the digital Assets as a currency. It is great to have a cash settlement made, but there is a need for the physical delivery of Bitcoin.
Particularly institutional investors, are intended to receive a secure way to invest larger sums of Capital simply and securely without a greater risk of default (freely translated):
We create an infrastructure that it is today. This is a great opportunity for institutional investors.
As we previously reported, the Nasdaq is also planning the launch of Bitcoin Futures for the beginning of the year 2019. Nasdaq is working. Bakkt wants to promote in addition to the aggregation of large investors, but also to the withdrawal of crypto currencies in our daily lives. This includes the provision of interfaces to use crypto-currencies for their daily shopping. In Cooperation with Microsoft an open, regulated, global Ecosystem for digital Assets to the Cloud is to be developed-based systems. The official date for the Start of Bakkt the 24. January 2019.