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Bakkt: Launch of Bitcoin Futures Announced for September 23rd

August 17, 2019 at 1:50 PM | By Jit Sutradhar Companies

The crypto community has been waiting for this event for a long time. Now, Bakkt has finally announced the launch of Bitcoin Futures. On September 23, daily and monthly futures should be available on the platform. Previously there was a test run of futures contracts. The Bitcoin price is expected to benefit.

The blockchain company Bakkt announced a date for the launch of Bitcoin Futures. This is evident from a media post by Bakkt CEO Kelly Loeffler on 16 August. Accordingly, the products will start on the platform on September 23 this year. These are daily and monthly futures. In the future they will be traded on Intercontinental Exchange Futures US and Intercontinental Exchange Clear US

In recent weeks, Bakkt held events in New York and Chicago , bringing together around 150 people. Among them were customers, regulators and market players. Apparently, Bakkt also received the launch of the US Commodity Futures Trading Commission (CFTC) in this context. This is the US regulator, which is responsible for financial products of this kind.

There have been discrepancies with the CFTC regarding the approval of futures in the past. For example, ledgerX recently had to suspend its futures plans for the time being after the CFTC refused approval. By contrast, Bakkt seems to have successfully agreed with the CFTC.

Bakkt wants more security from psychic Bitcoin futures

Most recently, Bakkt sent its futures into the test phase, with the company focusing on recruiting investors. In contrast to already existing offers, Bakkt wants to make its futures more regulated and safer. The company wants to achieve this primarily through physically covered Bitcoin Futures, which are based on real BTC. In the meantime, institutional investors are making these physically covered futures easier for the Bitcoin investment, as their investments are kept safe. In the case of the Bakkt Futures, this is done via a specially built “Bakkt Warehouse”, which will store the Bitcoin.

Bitcoin Futures are futures contracts. With these users can bet on the Bitcoin course . In contrast to the spot market, you can make a profit on the futures market even if the price falls. Also due to the positive impact on the Bitcoin rate, futures contracts are enjoying growing popularity in the crypto-ecosystem. For example, market giant Coinbase recently announced the expansion of its futures activities.

Image via Shutterstock

This article is translated by Google Translate from btc-echo.de

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