Bakkt is set to start accepting bitcoin deposits as early as the next week

The trading platform announced the launch date.
Customers will be able to deposit their coins starting from September 6.

Tanya Abrosimova Independent Analyst

Bakkt, a cryptocurrency platform developed by the Intercontinental Exchange Corporation (ICE), has announced that it would start accepting Bitcoin deposits on September 6.

On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23. These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody" the company announced.

It is expected that daily and monthly deliverable bitcoin futures will become fully available for trading on September 23.

Earlier in August, Bakkt's CEO Kelly Loeffler announced that the U.S. Commodity Futures Trading Commission (CFTC) gave the green light to the platform launch/

In addition, the Bakkt Trust Company LLC received a trust license from the New York Department of the Financial Services (NYDFS), which will allow the comoany to store Bitcoins of institutional clients. Their deposits will be insured for $125 million.

Contracts offered by the platform will allow market participants to bet on Bitcoin prices and receive payouts in cryptocurrency/ Notably, the traders of the existing regulated futures available on CME get only fiat equivalent of what they earned by trading Bitcoin futures.

Author

Tanya Abrosimova

Independent Analyst

XRP, ADA, and SOL are vulnerable to deeper losses

The top altcoins, including Ripple, Cardano and Solana, are trading in the red as the broader cryptocurrency market faces downside pressure. The bearish pressure aligns with Citadel Securities' anticipation of a surprise Fed rate hike, which could reduce liquidity in high-risk assets, including crypto assets.

XRP and XLM extend correction as bearish pressure builds

Ripple and Stellar remain under pressure on Tuesday after losing over 4% and over 5%, respectively, the previous day. In addition, weakening momentum indicators and deteriorating derivatives metrics suggest sellers remain in control, raising the risk of further downside for both altcoins. Derivatives data shows a slight bearish tilt.

Bitcoin risks losing $63,000 – FET, SHIB lead losses

Bitcoin edges lower on Tuesday, extending its losses of over 2% from the previous day. The broader crypto market suffered nearly $600 million in liquidations over the last 24 hours amid renewed sell-off pressure. Artificial Superintelligence Alliance and Shiba Inu have emerged as the worst-performing crypto assets in the same time period.

Pump.fun surges following rising revenue and social push

PUMP, the native crypto of token launchpad Pump.fun, saw double-digit gains on Monday, rising to nearly $0.00220, its highest level in about 11 weeks, before easing. The recent gains have stretched its 14- and 30-day performance above 38% and 50%, respectively.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.