ICE Revealed The Launch Of Bakkt Bitcoin [BTC] 'USD' Daily Futures Contract.

ICE Revealed The Launch Of Bakkt Bitcoin [BTC] 'USD' Daily Futures Contract.

2019-01-01 | Eddy Morgan

ICE Revealed The Launch Of Bakkt Bitcoin [BTC] 'USD' Daily Futures Contract.

In line with a recent official press 'release', the ICE [Intercontinental Exchange] in its recent update revealed the launch of the Bakkt Bitcoin [USD] Daily Futures Contract in an official release.

The document from ICE — the operator of the the NYSE [New York Stock Exchange] and creator of digital assets platform Bakkt — stated that “following consultation with the CFTC [Commodity Futures Trading Commission], ICE Futures U.S., Inc. expects to offer an updated launch timeline in early 2019 for the trading, clearing and warehousing” of Bakkt’s Bitcoin [BTC] futures contract.

The document reiterated that antecedently the firm had been targeting 24th January 2019 as the 'launch date', but that the date “will be 'amended' consistent to the CFTC’s process and timeline.”

The statement conjointly outlines the actual nature of Bakkt’s futures contracts, adding:

“The Bakkt Bitcoin [USD] Daily Futures Contract is a physically-settled daily futures contract for Bitcoin [BTC] stored into the [Bakkt] Warehouse, and can be cleared by ICE Clear US, Inc. Every futures contract requires delivery of one Bitcoin [BTC] held in Bakkt Warehouse, and will  trade in U.S.D terms.”

As reported today, Bakkt has completed its 1st funding spherical, raising $182.5 Mln from twelve partners and investors.

ICE primarily proclaimed the intention to make an “open and controlled, world ecosystem for digital assets” powered by the Microsoft cloud infrastructure this past August.

The founder of the Galaxy Digital — a crypto investment company  that invested in Bakkt — cited Bakkt’s unfinished launch collectively of the trade developments that might facilitate rotate the downward trend in crypto markets this year.

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