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14:08 19.08.2019
2019-08-19
Neironix
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Bakkt Officially Announced the BTC Futures Launch Date

Representatives of the Bakkt trading platform said that they will start trading in daily and monthly deliverable Bitcoin futures on September 23 this year.

The fact is that the Commodity Futures Trading Commission (CFTC) approved their application using the self-certification procedure. This was reported by Bakkt CEO Kelly Loeffler.

Besides, the Bakkt platform became the holder of a trust license granted by the New York State Department of Financial Services (NYDFS). This means that Bakkt now has the right to hold assets of institutional investors in BTC, which will be insured for $125 million.

Bakkt specialists want to improve the quality of provided services, reduce operational risks, solve the problem of low liquidity to let institutional investors interact with BTC. Also, they want to add margin tools for daily contracts, but nothing is known about the size of leverage.

It is also worth noting that to close futures, Bakkt will not refer to the cost of BTC in spot markets, as they can be manipulated. But the company does not disclose the mechanisms they are going to use to determine the value of Bitcoin.

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