Finally the wait is over…….
Bakkt the Bitcoin futures trading platform announced in a medium post that the trading on Bakkt platform will start in upcoming months.
Bakkt is developing the future contracts ICE Futures U.S. and ICE Clear US. Bakkt is working with CTFC (Commodity Futures Trading Commission) to bring the contracts for users that fulfil the needs, transparency, security and also compliant with Federal regulations.
The user acceptance testing (UAT) for futures contracts and custody will start in July. Further details will be shared in upcoming weeks until that users can use the UAT platform to test the trading platform and give feedbacks.
The new bitcoin futures contracts developed on users needs provides more security and risk management features.
Two Bitcoin futures contracts are listed:
- Daily settlement future contract: Which allow users to trade on the same day market price, users need to close the contracts at the end of the day.
- Monthly settlement future contract: Which allow users to trade on monthly price curve, the contracts may be closed at the end of the month or a fixed monthly interval.
- The futures contract settle on a fair price not based on wash trading. The settlement of price is based on the price discovered in physical delivery contracts.
- For secure storage of Bitcoin and physical delivery of Bitcoin contracts, use the integrated custody subjected to regulatory approval.
Bakkt CEO Kelly Loeffler further added:
“As we help bring digital assets mainstream, we’ll continue our collaboration with regulators and customers. The landscape won’t change overnight, but the intersection of technology and finance requires cooperation between business and policy makers to ensure the U.S. maintains a critical voice in how this space evolves.”
This is very big news for Bitcoin community and Bitcoin already reacted on this and the price reached $7900. One thing is sure The beast is awake ready for wild rides.