BAKKT starts testing Bitcoin Futures

July 23, 2019, | AtoZ MarketsYesterday was the official launch date of Bakkt’s highly anticipated Bitcoin Futures. The event will give high hopes to many Bitcoin & Crypto investors as it could be the start of the next bull run from this stage. Also, Bakkt makers seem optimistic and refer to the participation in Bakkt as a small Moonshot bet.

Bakkt launches its bitcoin futures; What Kelly said after the launch? 

Bakkt’s Chief Operating Officer (COO), Adam White, announced that Bakkt will have its first user tests for its Bitcoin futures on 22nd July 2019. The highly anticipated trading platform for Bitcoin futures, which is part of the New York Stock Exchange (NYSE), is now entering its critical test phase.

According to Bakkt CEO: “Customers in crypto markets – and many are still waiting to enter – have helped shape the design of the initial product offering. As stated in today’s ICE Futures US application to the CFTC, Bitcoin futures will be listed on a regulated derivatives exchange over the coming months.”

Also, the Chief Executive Officer (CEO) Kelly Loeffler said that the company not only works with ICE, but also works closely with the US Commodity Futures Trading Commission (CFTC) to launch Bitcoin futures.

Is Bakkt the only reason behind bitcoin bull run?

Despite various turns, many Bitcoin & Crypto investors see Bakkt as the great savior for the crypto industry and the starting signal for the institutional investors. It is worth to mention that, Bakkt is not idle at the time, taking care of the well-known custody issue and expanding its business by acquiring the Digital Asset Custody Company (DACC).

However, crypto investors should be aware that Bakkt is in a test phase yet. And, it is still unclear to what extent Bitcoins are actually used as. Also, the same applies to Bakkt as it is in the starting phase as of now.

A direct impact of yesterday’s launch on the Bitcoin course is very unlikely at this point for the reasons mentioned above. In addition, the event was long known and also in terms of Bakkt the bitcoin has already had a bull run.

Moreover, investment expert Ari Paul shares his opinion on Bakkt. He expects that Bakkt could be a big game-changer that could trigger a bullish move in the crypto markets.

It is important to note the special feature of the Bitcoin futures from Bakkt. The Bakkt has physically fulfilled for which they are stored via warehousing. This will ensure the price stability which is highly important. And, this could be safer even for institutional investors to bet for bitcoin futures. 

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