News Bakkt says bitcoin futures testing to begin in July

Bakkt says bitcoin futures testing to begin in July

-

- Advertisment -

NEW YORK (Reuters) – Bakkt, the startup cryptocurrency platform affiliate of New York Stock Exchange-owner Intercontinental Exchange Inc, said on Thursday it would begin letting users test two physically-settled bitcoin futures contracts on July 22.

The crypto-platform, which has faced regulatory delays since ICE announced plans for the new venture last August, said trading was expected to begin sometime in the second half of the year. Bakkt still needs regulatory approval of its custody warehouse, where the digital assets will be stored.

Bakkt aims to draw more traditional financial institutions into the cryptocurrencies space and it has partnered with ICE’s clearinghouse and futures exchange to bring new products to the market. The futures will be listed on ICE Futures U.S., cleared at ICE Clear U.S., and physically delivered to Bakkt’s warehouse.

Exchange operators CME Group and Cboe Global Markets already offer bitcoin futures in the United States, though Cboe’s last contract settles this month and has not been renewed.

Unlike CME and Cboe’s cash-settled futures, Bakkt’s contracts will be physically settled, meaning bitcoin will be delivered to the Bakkt warehouse when the contracts expire.

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

What’s the future of decentralized blockchains?

When Bitcoin was new and not valued at anything or just a few cents anyone could join...

My 5 favorite free crypto tools & sites I use daily

So I often get asked by friends, or people visiting my site about new tips for exciting...

Cryptocurrency is The Last Kingdom Where You Can Keep Your Data Private

Data privacy has been a hot topic for quite some time now and particularly after the popularity...

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.
- Advertisement -Bakkt says bitcoin futures testing to begin in July

Top 5 Ways To Build a Profitable Business in The Crypto Sector

The crypto industry has grown significantly despite criticism and a skeptical approach from regulators across the globe....

These 8 Cryptocurrencies Will Survive the Next Decade

Cryptocurrency is the future, we all have reasons to believe it. But are people ready...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you