Bakkt announces to launch the first physical bitcoin futures contract
The highly anticipated Wall Street company Bakkt's team informed the cryptocurrency and investment community about its launch of first entity-settled Bitcoin futures contract on Twitter:
In early August of this year, the New York Stock Exchange's parent company (NYSE), the Intercontinental Exchange (ICE), Microsoft, Starbucks, BCG and other companies jointly launched Bakket, an crypto asset trading platform. The company is creating an open, seamless global network that allows investors, businesses and consumers to buy, store and pay for digital assets in a simple, efficient and secure way.
Secure digital asset storage is considered one of the reasons why the SEC may approve Bitcoin ETFs in the near future. With ICE support, Bakkt addresses the issue of hosting services for large institutional investors. The lack of large exchanges that offer cryptocurrency services has long been considered one of the reasons that the SEC delayed the approval of the Bitcoin ETF.
CNBC’s Brian Kelly stated:
“This is huge news. I think the market is completely underappreciated. So let us talk about why this is the biggest news of the year for Bitcoin.
It paves the way for a Bitcoin ETF. Last week I stood here and said you know what, I don’t think the Bitcoin ETF will get approved. And guess what? The Winkelvoss ETF got rejected. Why?
Because there was not a US regulated exchange and there wasn’t US regulated custody.
With the Bakkt officially launch date of Bakkt’s Bitcoin futures close, many cryptocurrency analysts predict that BTCs may break out at that time.
Executive editor： Nino