Fundstrat: "Critical mass" of institutional investors ready to join Bakkt

21 Jul, 2019
by Richard Allen
Fundstrat: Critical mass of institutional investors ready to join Bakkt

According to market research and analysis firm Fundstrat, there is a flurry of institutional investors looking to get into cryptocurrencies and with Bakkt’s test launch tomorrow, these investors will finally have an onramp.

Bakkt will begin testing its Bitcoin futures platform on Monday, which will be physically settled in Bitcoin as opposed to cash. According to Fundstrat, which attended Bakkt’s Institutional Asset Summit on July 18, Bakkt is expecting a host of institutional clients from the get-go.

“investors at the event are excited about the Bakkt launch, and the notion of physically settled daily and monthly futures contracts. There was a wide array of clients, many with deep traditional equity/derivatives expertise, including prime brokerage services, prop desks, institutional exchanges and some of the largest equity HFT shops (5%+ share) that are preparing to enter crypto and plan to have an equally large impact.”

Fundstrat goes on to state that “there appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch, with the sales team gaining traction among brokers, market makers, prop trading desks and liquidity providers.”

Fundstrat concludes by saying “there is a community of institutional investors and vendors that is readying to port world-class systems from traditional asset classes and markets into the crypto world. The Bakkt launch could be a huge accelerator for market growth.”

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