Binance

Bakkt, the new crypto exchange venture backed by Intercontinental Exchange (ICE), the parent of the NYSE, is reportedly set to launch its first futures contract for Bitcoin (BTC).

According to a recent report by the Wall Street Journal, Bakkt’s physically-settled daily Bitcoin futures contract is very close to receiving the green light from the Commodity Futures Trading Commission (CFTC). Once approved, the¬†public will have 30 days to weigh in with comments.

This news comes after Bakkt announced that it would be pushing back the launch of the contracts from December 12 to January 24, 2019. According to Bakkt CEO Kelly Loeffler, the much-anticipated exchange launch was being delayed due to the need for more time to get everything in order.

“As is often true with product launches, there are new processes, risks and mitigants to test and re-test, and in the case of crypto, a new asset class to which these resources are being applied. So it makes sense to adjust our timeline as we work with the industry toward launch,” Loeffler said.

The launch of the BTC futures on Bakkt is widely considered to be a bullish event, with many analysts and industry leaders stating the launch could help fuel a run-up in price.

More: First Futures Contract to Pay Out in Bitcoin Poised for Green Light
Related: Bakkt Delayed: Much-Anticipated Bitcoin Exchange Pushed to 2019

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Voyager

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