It has been announced this week that Bitcoin future contract will be available for trading on 12th December. In the recent press release, the firm stated that the futures contracts will be the first trading product to go live on the platform.
“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on Wednesday, December 12, 2018. The Bakkt Bitcoin (USD) Daily Futures Contract is a physically-settled daily futures contract for bitcoin held in Bakkt LLC, ICE’s Digital Asset Warehouse, and will be cleared by ICE Clear US, Inc. Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse and will trade in U.S. dollar terms. One daily contract will be listed for trading each Exchange Business Day.”
What is Bakkt?
For those of you that don’t know, Bakkt is a platform which was developed and funded by the Intercontinental Exchange (ICE), the parent of the New York Stock Exchange (NYSE). Bakkt is one of the many institutional firms from the legacy financial system to recently enter the digital currency space but they are by far the most established and well connected.
As we reported earlier in the month, the former Vice President and General Manager at Coinbase, Adam White has joined Bakkt as their Chief Operating Officer.
USD pairs
The press release mentions USD pairs only, and if we look to past tweets from the company last month they stated that the launch would also include GBP and EUR trading pairs as well. The tweet that suggests this says:
Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.
— Bakkt (@Bakkt) 25 September 2018
According to CrytpoGlobe, “At [the] time of publishing, there is still no word from Bakkt as to whether or not the GBP and EUR pairs will be available for trading.”
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Source: CryptoDaily.co.uk
Original Post: Launch Date For Bakkt Bitcoin Trading
