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.
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
