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Title: Bakkt will physically delivered Bitcoin futures contracts, better than ETF Post by: CryptopreneurBrainboss on September 25, 2018, 06:48:01 PM Few hours ago, bakkt tweeted "Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account." Many followers has responded positively, some user even said "what bakkt has to offer is better than ETF" . what's your opinion on this and do you agree with the statement "what bakkt has to offer is better than ETF"?.
Link to tweet: https://mobile.twitter.com/Bakkt/status/1044567318771232769 Title: Re: Bakkt will physically delivered Bitcoin futures contracts versus fiat (USD) Post by: NeuroticFish on September 25, 2018, 06:57:41 PM Bakkt will be some sort of custodian of that BTC they claim to deliver to the customer (Bakkt) account. However, it's quite an interesting approach and may be just fine as an ETF-like tool.
I didn't give much importance to Backkt, but they seem to be advancing for real and in the right direction. Title: Re: Bakkt will physically delivered Bitcoin futures contracts versus fiat (USD) Post by: squatter on September 25, 2018, 06:58:07 PM Few hours ago, bakkt tweeted "Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account." Many followers has responded positively, some user even said "what bakkt has to offer is better than ETF" . what's your opinion on this and do you agree with the statement "what bakkt has to offer is better than ETF"?. Link to tweet: https://mobile.twitter.com/Bakkt/status/1044567318771232769 I'm not sure about "better than ETF." Maybe so. But to me, they're both just paper contracts with different properties. They're both just IOUs from more reliable issuers than the earlier generation of exchanges. Deliverable futures contracts affect real prices because they're an avenue for accumulating/selling real BTC. An ETF can also affect prices since issuing and redeeming bundles involves buying and selling on the spot market. I guess it boils down to how accessible these instruments are and what the custodial security protocols are like. I'm guessing an ETF would be more accessible for average folks, people diversifying their retirement accounts an such. I have no idea about the security aspect. Title: Re: Bakkt will physically delivered Bitcoin futures contracts, better than ETF Post by: CryptopreneurBrainboss on September 26, 2018, 08:42:38 AM it's quite an interesting approach and may be just fine as an ETF-like tool. I didn't give much importance to Backkt, but they seem to be advancing for real and in the right direction. I have been following them for some while now, they're really showing some positive signs toward achieving their goal. Just as they tweeted "Bakkt uses the existing, time-tested, regulated futures market infrastructure to introduce physically delivered Bitcoin and warehousing to global markets. All aspects of the existing futures market will, for the first time, be part of physical delivery and warehousing of Bitcoin". I see a future in them. |