Bakkt starts testing Bitcoin Futures

3 min read

Bakkt, the highly anticipated Bitcoin (BTC) futures platform of the Intercontinental Exchange (ICE), has begun testing the delivery of BTC futures, according to an official chatter on July 22.

According to the tweet, today, user acceptance for Bitcoin daily and monthly futures began with participants from all over the world.

The platform initially announced the launch of futures testing in June when Bakkt COO stated Adam White: "On July 22, two days after the 50-year anniversary of Apollo 11, Bakkt will initiate user acceptance testing for its listed Bitcoin futures and traded with ICE Futures US and deleted with ICE Clear US. "

White then said that the introduction of Bitcoin futures will help usher in more institutional participation in cryptocurrency markets.

Bakkt's Bitcoin futures are physically delivered through a process that & # 39; warehousing & # 39; is mentioned, which is said to predict well from a price discovery point of view, but it causes some concerns for regulators.

Bakkt has experienced several delays in launching it because regulators such as the United States Commodity Futures Trading Commission have investigated the platform's compliance procedures and their possible effect on the markets.

Last week, Sam Doctor, the managing director and quant strategist at Fundstrat Global Advisors, predicted that full futures trading at Bakkt would be launched this quarter. Doctor said:

"There seems to be a critical mass of adopters ready to come on board on day 1 of the launch of Bakkt, with the sales team getting a grip on brokers, market makers, prop trading agencies and liquidity providers."

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Written by

Don Bradman

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