Bakkt Will Start Testing Tomorrow Full Trading Start in Q3 2019
One of the most awaiting events launches in the Crypto community is Bakkt (an exchange for Bitcoin futures contract provider). The wait will over tomorrow as Bakkt will start testing of the Bitcoin futures contract trading.
Bakkt will provide physical Bitcoin futures contracts that are first of their kind and is approved by SEC (U.S. Securities and Exchange Commission). Bakkt is the sub-branch of the biggest stock exchange NYSE ( New York Stock Exchange).
Bakkt provides physical Bitcoin futures contracts i.e, all contracts sold must be equal to Bitcoin stored in Bakkt cold wallet. Bakkt provides daily and monthly settlement of contracts. The daily futures contracts will be settled on the same day and monthly contracts have a period of 30 days or more.
Managing director and quant strategist at Fundstrat Global Advisors Sam Doctor posted on twitter that Bakkt will start full trading services for all users in Q3 2019.
Crypto community believes that the launch of Bakkt Futures trading contracts will give a boost to the entry of traditional institutional investors.
The post further explained:
“There appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch, with the sales team gaining traction among brokers, market makers, prop trading desks and liquidity providers.”
During the event Commodities Futures Trading Commission (CFTC) commissioner Dawn Stump said that no Cryptocurrency posses any threat to financial stability and regulator see a lot interest for Bitcoin futures contract in public.
