The launch of bitcoin futures contracts which (as a reminder) are going to be physically settled is finally looking like they will be happening in the near future as it appears that Bakkt has got the go-ahead from the CFTC with Bakkt stating that user acceptance testing for futures and their custody services will likely start in July.
Latest Announcement by Bakkt:
Bakkt has also stated that they will be offering both daily and monthly futures contracts. The newest announcement from Bakkt really tries to highlight their focus on compliance in terms of avoiding all the bad practices as well as ensuring that the physical delivery is handled in a super secure way.
Bakkt made an announcement on Monday, 13th April that the Intercontinental Exchange’s cryptocurrency initiative will launch their physically delivered bitcoin futures contracts starting from June this year. The CEO of the exchange, Kelly Loeffler posted on her medium account regarding the daily and monthly delivery of futures. The exchange is expecting to soft launch its product by July this year.
Today, we’re pleased to update you on the launch of bitcoin futures contracts developed by Bakkt in collaboration with ICE Futures U.S. and ICE Clear U.S. https://t.co/8G3YcFbPl2
— Bakkt (@Bakkt) May 13, 2019
The CEO also mentioned that the exchange is working hard in order to satisfy the needs for trading, transparency, and market certainty. She also revealed that the exchange has employed Marc D’Annunzio as their General Counsel considering his experience in securities laws, M&A, along with the other sectors that are relevant to cryptocurrencies and the legislature it is under the jurisdiction of.