Bakkt Physical BTC Futures Won’t Appear on the Market Until 2019
International Exchange’s (ICE) postponed the launch of the Bakkt – first bitcoin futures trading platform with physical delivery of the asset – to the next year.
According to ICE, Bakkt should start working on January 24, 2019. Although earlier the launch was scheduled for December 12. The company stated, that it needs to prepare completely for the release of a new product on the market. This is especially important in crypto industry because cryptocurrency is a “new class of assets.” Therefore, the company needs additional time for preparation.
To launch Bakkt, ICE is still needed an approval from the US regulator. For now, there is not official permission from authorities.
Futures bitcoin trading is not new for the cryptocurrency market. But now, after the expiration of futures contracts, traders receive not the BTC, but the cash equivalent of its price. Bakkt promises to carry out real physical deliveries of Bitcoins for settlement. Some experts are confident that this should push up the demand for the cryptocurrency, and hence its price.
It is extremely important during the collapse. In just a week, the price of BTC has fallen from about $6,300 to $4,282, according to Coinmarketcap. This mark Bitcoin did not reach in more than a year.