ICE’s Crypto Trading Platform Bakkt Sets Official Launch Date for 2018 Bitcoin Futures
Bakkt Bitcoin daily futures contracts will officially begin trading on December 12, 2018, according to an announcement from parent company Intercontinental Exchange, owner of the New York Stock Exchange.
The Bakkt Bitcoin (USD) daily futures contract is a physically-settled daily futures contract for Bitcoin held by Bakkt, ICE’s Digital Asset Warehouse. ICE Clear US, another subsidiary, will clear the contracts.
“Bakkt will provide the first Federally regulated, physical delivery price discovery contract for the digital currency market.” – @Bakkt CEO Kelly Loeffler at #FIAExpo #GetBakkt pic.twitter.com/yJhxdK20HB
— ICE (@ICE_Markets) October 18, 2018
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Bakkt’s first contracts will be physically delivered Bitcoin (BTC) futures contracts versus fiat currencies, including USD, GBP and EUR. Buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into a customer’s account.
In addition to offering Bitcoin futures, CEO Kelly Loeffler says Bakkt’s infrastructure offers solutions for buying, selling, storing and spending digital assets. The foundation is built upon “the time-tested, regulated futures markets that have advanced markets ranging from coffee to gold for hundreds of years.”
According to Loeffler, “We’re taking a transparent approach to engage across the industry as we begin testing and onboarding in November, and trading and warehousing in December.”
