• The parent company plans to invest $20-25M.
  • The launch date remains unknown so far.

Intercontinental Exchange (ICE), the parent company of the New-York Stock Exchange, considers investing about $25 million in the development of in the platform for Bitcoin futures Bakkt.

Speaking during teleconference devoted to the financial results of the 4th quarter of 2018, the Financial Director of ICE Scott Hill mentioned that the company would spend $20-$25 million to support the platform.

Meanwhile, according to ICE’s CEO Jeff Sperker, Bakkt is an ambitious project for ICE, because it is so different from its typical projects. He also mentioned that Bakkt secured partnership deals with such heavyweights as the Microsoft venture fund and Starbucks.

Bakkt’s launch was scheduled on January 24. However, It was postponed for an indefinite period. Sperker failed to clarify this question, which means that investors and traders are still in the dark as to where they can start trading Bitcoin futures with physical delivery.

At the end of December Bakkt closed the first financing round and raised $182.5M. In January, the company acquired assets of futures broker Rosenthal Collins Group and hired new employees.

Also earlier we reported that scammers tried to trick investors of their money by impersonating Bakkt’s website. They invited them to participate in the second financing round and declared that the platform would be put into operation on March 15.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Sellers come in ahead of 10,500

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. 

More Bitcoin News

XRP pushes to session highs but a key level is in sight

XRP/USD pushes to session highs. Key resistance level is in sight. 0.300 still seems the like the long term target for bulls.

More Ripple News

BCH/USD: 300 is well supported once again

Bitcoin Cash has rejected downside moves yet again. Key trendline apex needs testing soon. 360 is still the level to breach for upside momentum.

More Bitcoin Cash News

NEO announces new partnership with gumi Cryptos bringing blockchain to Japan

NEO Foundation has announced a new partnership with gum Cryptos. The two organisations will be working on bringing blockchain technology to Japan. 

More Neo News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast