Bakkt Bitcoin Futures Prepares for Launch Warehouse & Custody Service Goes Live Jonathan Ganor 2019-09-08 04:32:00 485 views

How Will Futures Affect the Bitcoin Ecosystem?

Founded in August 2018, Bakkt was founded to be an open and regulated global ecosystem for digital assets. Bakkt was founded by InterContinental Exchange (ICE), an American company that owns exchanges and commodity markets. One of the first services Bakkt offered was trading and conversion of Bitcoin for fiat currencies.

Recently, Bakkt has launched its Bitcoin custodial service in New York in preparation to their Bitcoin futures launch.

Today our Warehouse opens for customer bitcoin deposits and withdrawals as we prepare for the Bakkt Bitcoin Daily & Monthly Futures, launching September 23



The availability of physical delivery brings more flexibility in managing bitcoin exposure â Bakkt (@Bakkt) September 6, 2019





Bitcoin Futures and How It Might Impact the Market

As previously mentioned Bakkt's Bitcoin futures will launch on September 23rd. This might have deep market implications.

In a blog post, Bakkt's CEO Kelly Loeffler outlined a few very positive aspects of Bitcoin futures.

"Bakkt is bridging that gap to access this market and solve for factors that have slowed institutional participation. Whether concerns relate to a lack of liquidity, market quality and regulation, or issues with reliability, fees, and operational risks, we are addressing these challenges with a transparent offering."

In a nutshell, Bakkt claim that they will increase institutional adoption of cryptocurrencies. In addition to that the futures market will cut down on market manipulation and other malpractices. It also might reduce Bitcoin's volatility, which can be seen as a double-edged sword.

In total Bakkt's future launch could be seen as a positive development in the world of Bitcoin. It might increase institutional adoption and expand Bitcoin's popularity among institutions.





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