Bakkt launches its bitcoin futures platform today

Initially, the platform will be started in a test mode.
The full launch is scheduled by the end of the third quarter.

Tanya Abrosimova Independent Analyst

Bakkt is expected to launch its deliverable Bitcoin futures in a test mode as of today, July 22. The company plans to launch the platform into the commercial operation by the end of the third quarter.

Intercontinental Exchange (ICE), the company behind the platform, postponed the launch several times, but investor interest seems to be getting only stronger. At least, that's the opinion expressed by Fundstrat Global Advisors's strategist Sam Doctor.

"We think Bakkt could be a huge catalyst for institutional participation in the crypto market. Here are our takeaways from the Bakkt institutional summit yesterday at the NYSE," he said in a recent tweet that accompanied the publication of Fundstrat's research.

He believes that we do have the critical mass of institutional investors ready to start trading digital assets once the platform is launched. Basically, Bakkt is poised to offer the first cryptocurrency instrument regulated in the US.

Meanwhile, Bakkt's COO Adam White earlier commented that the deliverable bitcoin futures would set new market standards. He also mentioned that the test launch would start two days after the 50th anniversary of Apollo 11.

"That's our mission — to support the development of trusted infrastructure for securely transacting in the new market for digital assets. In advance of the start of Bakkt's testing regimen, we wanted to share what we see as some of the benefits we're bringing to help grow this market," he added.

It is worth mentioning that Bakkt will offer two futures contracts with daily and monthly settlements. The risk management and the collateral mechanism will comply with the standards of the traditional derivatives market, according to the platform creators.

Author

Tanya Abrosimova

Independent Analyst

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