Bakkt has announced the launch of its long-awaited daily and monthly futures platform in the United States in a blog post on August 16th. Once approved by the required regulators, the release is scheduled for September 23.
Bakkt's physically delivered futures were highly anticipated and the company initially announced its launch in August 2018 before suffering repeated delays due to compliance issues. Meeting the Commodity Futures Trading Commission (CFTC) has been particularly challenging. The company seriously began testing on July 22, according to Cointelegraph at the time.
According to the announcement, Bakkt has organized numerous events in New York and Chicago, critical cities for the US futures market. UU. They have also met with CFTC regulators as well as the Securities and Exchange Commission (SEC).
Bakkt will partner with Intercontinental Exchange Futures U.S. and the Intercontinental Exchange Clear USA to provide their futures contracts.
Institutional services and trusteeship are a growing market in cryptocurrency, with the important exchange of US Coinbase. UU. which announced the accession of the Xapo institutions to its detention operation last night. Following the announcement, Coinbase CEO Brian Armstrong commented on the significant increase in institutional clients for crypto services, saying:
"If the institutions were going to adopt cryptocurrency or no question was raised about 12 months ago. I think it's safe to say that we now know the answer. We see $ 200-400 million a week in new cryptocurrencies from institutional clients. "