News by Altcoin Buzz: Robert Patrinjei
For those that are not familiar with Bakkt, it’s a subsidiary of the Intercontinental Exchange (ICE) which is an American company that owns the New York Stock Exchange.
A quote from the blog post I had have mentioned:
“On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.”
Compared to other markets, the crypto market has lower volume due to limitations like market infrastructure and regulatory certainty. Thus, results in high volatility due to the lack of institutional investors.
Bakkt is working pretty hard to get regulatory clearance from the Commodity Future Trading Commission, or the CFTC. As soon as Bakkt has the approval, it will launch its crypto futures products.
Two futures contracts will be listed according to Bakk’s website:
“1) A daily settlement bitcoin future, which will enable customers to transact in a same-day market. And 2) a monthly bitcoin futures contract will enable trading in the front month and across the forward pricing curve.”