íàçâàíèå

Bakkt Bitcoin Futures Has Reached “Critical Mass”, Expected to Launch in Q3:

In the coming week, Bakkt is expected to test-launch its Bitcoin (BTC) futures product. While many have begun to doubt its viability as a medium for institutional adoption, especially due to the countless delays it faced, this may not be the case.


Related Reading: BitMEX May Be the First Target of the U.S.; Which Crypto Platform is Next?

Earlier this week, the team at Fundstrat Global Advisors, a New York-based markets analysis firm with roots in the cryptocurrency space, attended the Bakkt Institutional Digital Asset Summit that was hosted by the New York Stock Exchange.

And per an analysis from Sam Doctor of Fundstrat, institutions and other entities in attendance were not only bullish on Bakkt, but the broader Bitcoin and cryptocurrency market too.

Institutions Hyped for Bakkt’s Bitcoin Futures

In a recent Fundstrat research note posted to Twitter, Doctor explained that per his first-hand experience of the event, which saw representatives from over 150 investors and institutions attend, there is “institutional anticipation” for Bakkt’s Bitcoin futures, slated to be the first U.S.-regulated vehicle of its sort that is physically delivered. He wrote:

“As we have written before, Bakkt tackles many of the barriers to adoption for traditional investors seeking to expand their mandate to include crypto.”

He goes on to write that there “appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch”, noting that the firm’s sales team is starting to ramp up discussions with everyone from brokers and market makers.

He thus confirms that should the hype translate into actual investment, the long-expected launch of the Bitcoin product, which will give many institutions their first taste of so-called “physical” BTC, could be a “huge” catalyst for the growth of this already budding market.

This news comes hot on the heels of reports that claimed that ErisX and LedgerX, two competitors of Bakkt, had secured the proper licenses from the U.S. Commodity Futures Trading Commission (CFTC) that will allow these upstart crypto exchanges to also list Bitcoin futures.

Bakkt Pay?

In related news, according to a recent report fromtrade publication The Block, Bakkt has recently signed a new employee that may be working on a digital asset wallet.

Earlier this year, the company made a series of hires, indicated by the careers section on its website. One job listing called for a mobile app developer, sparking discussion about Bakkts plans post-Bitcoin futures.

The Blocks sources say that following the release of the long-awaited financial vehicle, the crypto platform may launch the mobile application. Not many details were given about this product, but the outlet points out that Bakkts recently-updated website mentions digital payments. An excerpt from Bakkt.com reads:

Whether between consumers and merchants or peers, the ability to conduct transactions in digital assets holds promise as a these new global currencies evolve beyond a store of value or speculative assets, and as distributed ledger technology scales. Bakkt is working with leading merchants who recognize the potential of digital assets.

Earlier reports have suggested that Starbucks may be one of the users of Bakkt’s eventual payments solution, which is most likely to involve Bitcoin.


Related Reading: Cryptocurrency is Part of the Global Currency War, Says Federal Reserve Branch Head
Featured Image from Shutterstock

The post Bakkt Bitcoin Futures Has Reached “Critical Mass”, Expected to Launch in Q3: appeared first on NewsBTC.

20.07.2019 / 14:40 76
Bakkt Bitcoin Futures Could See Green Light in Just 10 Days Bakkt Bitcoin Futures Could See Green
Bakkt could soon proceed with its Bitcoin futures product if the CFTC does not raise any objections within 10 days. We’ll Be Bakkt…Soonish Bakkt
Pending Approval: Bakkt’s Futures Contract Is Set to Be Launched Pending Approval: Bakkt’s Futures
TweetShare Bakkt’s futures are expected to increase participation from Wall Street. Bakkt‘s Bitcoin (USD) Daily Futures Contract, the
Newsflash: NYSE Owner Delays Bakkt Bitcoin Futures Launch to 2019 Newsflash: NYSE Owner Delays Bakkt
It looks like the crypto markets may not get a December boost from Wall Street after all. Intercontinental Exchange (ICE), the owner of the New York
Lawyer: Don’t Overestimate Bakkt’s Impact on the Crypto Market Lawyer: Don’t Overestimate Bakkt’s
Jake Chervinsky, a government enforcement defense and securities litigation attorney at Kobre & Kim LLP, has stated that while there are some
ICE: Bakkt Will Go Live in December Pending ‘Regulatory Approval’ ICE: Bakkt Will Go Live in December
New York Stock Exchange owner Intercontinental Exchange (ICE) has announced its regulated ecosystem for cryptocurrency, Bakkt, would launch one month
Is a Year End Bitcoin Bullrun Coming? December Arrival for Bakkt BTC Futures Is a Year End Bitcoin Bullrun Coming?
The Intercontinental Exchange (ICE), will list and enable trading of the new Bakkt Bitcoin (USD) Daily Futures Contract on December 12, 2018. What is
Comments (0)
Add a comment
Comment on