Bakkt: bitcoin futures trading goes live

Posted 23 September, 2019

ICE's trading platform Bakkt has officially launched bitcoin futures trading on its market in line with the plan that was unveiled earlier. The announcement was made on Twitter on September 22 2019.

Bakkt has offered contracts with which users can bet on price changes in bitcoin quotes and receive crypto payments. At the same time, the existing regulated futures on CME enable users to receive profit from bitcoin betting only in fiat terms.

According to the available data, the first contract was closed at $10,115. at the same time, the current price for bitcoin stands close $10,000.

The company posted on Twitter:

"Bakkt Bitcoin Futures are now actively trading on ICE Futures U.S., while the Bakkt Warehouse continues to onboard bitcoin." 

The company representative stated that the platform planned to lure large institutional customers. At the same time, the market expert believes that this process may take some time. In particular, it was noted that trade turnover can be quite substantial with demand corresponding to the existing futures in fiat on CME in particular.

Notably, the platform is the first company in the USA that received approval for the trading of settled bitcoin futures.

In August Bakkt passed self-certification and managed to receive green light for the launch from US CFTC.

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