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Bakkt Bitcoin Daily Futures: What is it and Why Everybody is Talking so Much about it?

According to the platform; “ICE Futures U.S., Inc. will list the new Bakkt Bitcoin Daily Futures (USD) Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval.

ICE Futures U.S., Inc. is a company with the goal of providing consumers and institutions with the opportunity to buy, sell, store and spend digital assets around the world.

The goal is to provide a market for Bitcoin and storage solutions that conforms to regulatory approval, as well as applications for consumers and traders. The initial focus is on trading and converting BTC versus traditional fiat currency.

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The first product of the company is a 1-day contract with Bitcoin futures that will give a physical result. This implies that any future contract on the platform will be backed up with real Bitcoin.

The Bakkt Bitcoin Daily Futures platform was reported to launch on December 12, and that raised a high hope that the market will experience some growth before the New Year.

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However, the news that Bakkt Bitcoin Daily Futures platform launch is postponed to January 24, 2019, came as a surprise. The platform explains: The new, listing time-frame will provide additional time for customer and clearing member on boarding prior to the start of trading and warehousing of the new contract coupled with the need for additional testing of security systems and the instability of the cryptocurrency market”.

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Written by Russell


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