Bakkt is in its pilot phase, for physical Bitcoin Futures on 22. July start
Home News Bakkt is in its pilot phase, for physical Bitcoin Futures on 22. July start
Marcus Misiak –
Bakkt is to start next month, his long-awaited, to test physically supported Bitcoin Futures. Bakkt has the start date for the 22. July will be announced and the event with the first moon landing compared.
The crypto Community is waiting for institutional investors enter the cryptocurrency market and the next Bull-Run trigger. A great hope is the parent company of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), which was founded last year, the company Bakkt. Among other things, the platform has announced to its customers physically delivered Bitcoin Futures offer. In the last few months this has come to a standstill, since the regulatory authorities have given the green light to the platform.
At the end of March, Kelly Loeffler, CEO of Bakkt said, in an official Medium-blog post:
With the ongoing Reports of tampering with the crypto-market and security concerns, the need for the solutions we develop for Bakkt, is more important than ever. It shows why regulated Custody and market-based solutions for digital Assets the focus of our work to deal with risks that many have held of the interaction with the digital Assets. Security, infrastructure, and regulatory clarity are the cornerstones for building trust and, ultimately, for the support of this technology in the service of people around the world.
In the new blog post, the company writes that it completes a “Moonshot bet” on Bitcoin. Goal is to build confidence in digital Assets for both institutions, as well as for consumers. Adam White, COO of Bakkt and former employee of the crypto-currency exchange Coinbase announced on the 22. July as the date for the beginning of the first Tests:
22. July, two days after the 50-year anniversary of Apollo 11, will begin Bakkt with the user acceptance testing for its Bitcoin Futures listed at ICE Futures U.S. and traded at ICE Clear US is released.
The announcement could be a positive Signal for the entire crypto-currency Community, as several members have been waiting for you to Start, since the parent company of the NYSE, Intercontinental Exchange, the Start of Bakkt announced. In comparison to other markets, institutional participation in the crypto currency market is due to the limitations of the market infrastructure and the Regulatory certainty so far is still very low. This leads to a comparatively lower trading volumes, less liquidity and a low level of price transparency.
The blog post also stressed the concept of a “Moonshot bet” and stated that the Chairman and CEO of Intercontinental Exchange, Jeff speaker, noted that the company’s investment in Bakkt “is a bit of a Moonshot bet”:
Nevertheless, the Bitcoin-price determination requires, such as a moon landing, with careful testing before the Start. 22. July, two days after the 50-year anniversary of Apollo 11, will begin Bakkt with the user acceptance testing for its Bitcoin Futures listed on ICE Futures U.S. and traded at ICE Clear US is released.
In addition, it was stated in the blog post as the platform, would solve a number of market risks, including regulatory uncertainty, price determination, market manipulation, and Surveillance. The blog post goes on to say:
Bakkt brings all the functions that the institutions would expect [….] Block Trades; lower fees until the end of the year, in order to promote the trade; Market-Maker incentive programs to promote the liquidity of markets and the integration of ISVs and regulated Brokerage platforms.
The news will follow on the may Declaration of the platform that they expect the Tests to the introduction of both of your daily Bitcoin Futures contract, as well as your monthly Bitcoin Futures contract in July.
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