Intercontinental Exchange, which also owns NYSE, announced the launch of the Bakkt Bitcoin Cash Settled Monthly Futures contract, which will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore.
First fully regulated futures market for digital assets
According to the official press release, Bakkt Bitcoin Cash Settled Futures will be settled against data from the physically delivered Bakkt Bitcoin (USD) Monthly Futures contract, which would be the first fully regulated futures market for digital assets.
Lucas Schmeddes, President & COO of ICE Futures and Clear Singapore, said that their new cash-settled futures contract would offer investors in Asia and around the world a convenient, capital-efficient way to gain or hedge exposure in bitcoin markets.
Singapore plans to regulate bitcoin futures.
Meanwhile, Singapore authorities are planning on regulating bitcoin and other cryptocurrency futures trading. The Monetary Authority of Singapore published a consultation document seeking green light fro listing “payment token derivatives” on approved exchanges under the country’s Securities and Futures Act. The MAS proposed this consultation after seeing institutional interest in bitcoin futures.
However, the MAS clarified that futures contracts are not suitable for retail investors as they have little or no intrinsic value and their prices are highly volatile.