The Intercontinental Exchange today released a notice that Bakkt’s Bitcoin futures exchange will go live December 12 2018.
The end of this year has had big news for institutional crypto adoption, with Fidelity to launch custodial services which cement crypto as a new asset class, and Bakkt announcing the creation of an imminent Bitcoin Futures trading platform.
"Tier 1 global investment banks are either in current discussions with Bakkt to use their familiar exchange architecture or are watching the launch very, very closely" https://t.co/Vka6PajI6D— BlackPacificCapital (@BlackPacificCap) October 22, 2018
Bakkt is owned by Intercontinental Exchange, or ICE, which also owns the New York Stock Exchange. ICE plans to bring the kind of institutional security and dependability to crypto traders. ICE describes the upcoming Bakkt market as offering ‘physically delivered daily futures contracts on Bitcoin traded in BTC/USD (subject to regulatory approval). These contracts will be traded on ICE’s electronic trading platform, which offers industry-leading speed and reliability, regulated by the CFTC,’ echoing the framework which traders have come to expect with trading futures on the New York Stock Exchange, and other foundational trading platforms.
There was some expectation that the exchange would launch in November pending approval by the CFTC, and no reasons have been given for the apparent delay, though regulatory setbacks are likely.