Bitcoin Futures testing to start on July 22: Bakkt
Much-anticipated crypto trading platform Bakkt objectives to start user approval testing for its bitcoin futures on July 22, the business revealed today.
“This launch will lead to a new standard for accessing crypto markets. Compared to other markets, institutional participation in crypto remains constrained due to limitations like market infrastructure and regulatory certainty,” Adam White, Chief Operating Officer of Bakkt, wrote in a blog post.
As formerly reported, two futures agreements will be noted and traded at ICE Futures U.S. and cleared at ICE Clear U.S.:
A daily agreement bitcoin future, which will allow clients to negotiate in a same-day market.
A regular monthly bitcoin futures agreement will allow trading in the first month and throughout the forward prices curve.
Bakkt has long been considered a massive action of standard financiers into crypto that might improve the adoption of Bitcoin and other digital possessions.
At pixel time (15: 32 UTC), bitcoin trades at around USD 8,200 and is up by 0.50% in the past 24 hours and by 6.2% in the previous week.
The partners and financiers in Bakkt consist of business such as Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Starbucks, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s equity arm, Pantera Capital, PayU, M12, the fintech arm of Naspers, Protocol Ventures.
Reportedly valued at around USD 740 million, Bakkt will require a great deal of trading volume to make sure indulging returns to their investors.