Not Just Bitcoin – Bakkt Is Considering Additional Crypto Futures Contracts
Bakkt’s recent announcement that it’s finally ready to launch its physically-backed Bitcoin futures triggered a burst of requests on Twitter asking for altcoins to be added to the platform.
We have some news https://t.co/ykUvQ31cGz
— Bakkt (@Bakkt) August 16, 2019
It turns out Bakkt has already confirmed that it is interested in supporting additional crypto assets aside from BTC.
The company first put out the word in November that it plans to gather feedback from customers and the crypto community to see which contracts it should add next.
“Bitcoin today accounts for over half of total crypto market capitalization and has been deemed to be a commodity, and its derivatives are regulated in the US by the CFTC.
As the world’s most liquid and widely distributed cryptocurrency, and where we’ve seen the most customer demand, bitcoin’s profile creates a liquid product on which to build a futures contract.
We’ll consider additional contracts as the landscape evolves and as we receive additional customer feedback about what they want and need.”
Bakkt says inquiries can be sent to email@example.com.
“Our contracts have already received the green light from the CFTC through the self-certification process and user acceptance testing has begun. With approval by the New York State Department of Financial Services to create Bakkt Trust Company, a qualified custodian, the Bakkt Warehouse will custody bitcoin for physically delivered futures.
This offers customers unprecedented regulatory clarity and security alongside a regulated, globally accessible exchange in a market underserved by institutional-grade infrastructure.”
The futures will be cleared through ICE US, which is regulated by the U.S. Commodities Futures Trading Commission.