Bitcoin Futures

[CryptoHaris]

Keeping in mind the SECs verdict due in a couple of days, I really wish to understand how Bitcoin Futures stand to assuage any negative impact from the SECs decision.

Quoted from the article-

The physical crypto futures is designed to attract investment from institutional investors, who have so far stayed away from the market. Bakkt, notwithstanding, promises a “regulated ecosystem” where investors can invest in cryptocurrency product.

Reference Article- https://blockonomi.com/bakkt-bitcoin-futures/[/size]

[Danielosad]

SEC is legally not required to make any verdict on the bitcoins  ETFs yet, they moved the date forward till 29th Dec. The odds of its being approved remains 5-10 percent chance within the year. https://www.coindesk.com/vaneck-and-solidx-unfazed-by-the-secs-latest-bitcoin-etf-delay/.
I personally do not think we will get any verdict this year. A rejection is not a death blow to the price of bitcoin as the adoption is gradually on the increase. For now,maybe we should focus on the Bakkt futures back by physical bitcoins which is geared to kick-off in November. JP Morgan is planning something similar.

[dothebeats]

The blows against futures and ETFs have been present for the last couple of months, and amazingly, bitcoin and the economy kept a sturdy stance against it. Right now, the Bakkt Futures might not be accepted by the SEC, and knowing how the market reacts to such news, this will just be another short-term blow without any severe damage for the cryptocurrency market. It will bleed, yes, but not profusely.

[cryptocrusher]

SEC is legally not required to make any verdict on the bitcoins  ETFs yet, they moved the date forward till 29th Dec. The odds of its being approved remains 5-10 percent chance within the year. https://www.coindesk.com/vaneck-and-solidx-unfazed-by-the-secs-latest-bitcoin-etf-delay/.
I personally do not think we will get any verdict this year. A rejection is not a death blow to the price of bitcoin as the adoption is gradually on the increase. For now,maybe we should focus on the Bakkt futures back by physical bitcoins which is geared to kick-off in November. JP Morgan is planning something similar.

Futures backed by real bitcoin is what the market really needs. It taps in to the rich resources of large institutional investors who do not wish to go through the hassle of purchashing bitcoin themselves but it actually has a direct influence on the price unlike all of the current futures we have. It will also with that make manipulation using futures far more difficult. I would actually hope to one day see only physically backed futures but I doubt that will ever happen.

[Geemy]

price stays at $ 6,000  This price is fixed over the past six months but I expect from my point of view that the price will rise to reach the end of this year to unprecedented prices

[1NV3ST0NM3]

The blows against futures and ETFs have been present for the last couple of months, and amazingly, bitcoin and the economy kept a sturdy stance against it. Right now, the Bakkt Futures might not be accepted by the SEC, and knowing how the market reacts to such news, this will just be another short-term blow without any severe damage for the cryptocurrency market. It will bleed, yes, but not profusely.

https://coinidol.com/us-sec-demands-further-comments-on-cboe-verdict-on-bitcoin-etf/

Price drops after this verdict or some other reasons, can't be said with full surety.

The price rise is not really expected in near future. But you never know, for the crypto market is very volatile. And such kind of fuds have a strong bearing on this market, so cannot predict anything.

[amwer]

ICE Futures U.S. offers physically delivered daily futures contracts on Bitcoin traded in BTC/USD (subject to regulatory approval). These contracts will be traded on ICE’s electronic trading platform, which offers industry-leading speed and reliability, regulated by the CFTC. All trades are cleared and guaranteed by ICE Clearing US, the central counterparty for all ICE cleared forex futures trades. Trades will result in physically delivered Bitcoin in ICE’s regulated Digital Asset Warehouse. Market participants are eligible to transact with any other market participants. ICE physically delivered bitcoin futures offer trading and hedging opportunities.

[thecodebear]

SEC is legally not required to make any verdict on the bitcoins  ETFs yet, they moved the date forward till 29th Dec. The odds of its being approved remains 5-10 percent chance within the year. https://www.coindesk.com/vaneck-and-solidx-unfazed-by-the-secs-latest-bitcoin-etf-delay/.
I personally do not think we will get any verdict this year. A rejection is not a death blow to the price of bitcoin as the adoption is gradually on the increase. For now,maybe we should focus on the Bakkt futures back by physical bitcoins which is geared to kick-off in November. JP Morgan is planning something similar.

Futures backed by real bitcoin is what the market really needs. It taps in to the rich resources of large institutional investors who do not wish to go through the hassle of purchashing bitcoin themselves but it actually has a direct influence on the price unlike all of the current futures we have. It will also with that make manipulation using futures far more difficult. I would actually hope to one day see only physically backed futures but I doubt that will ever happen.

Yes in terms of futures this is the only kind that matters. Futures that aren't physically backed are for pure manipulation and betting, not investing. This will mean Wall St firms that use it will have to actually take up some of the Bitcoin supply.

[reflector]

The blows against futures and ETFs have been present for the last couple of months, and amazingly, bitcoin and the economy kept a sturdy stance against it. Right now, the Bakkt Futures might not be accepted by the SEC, and knowing how the market reacts to such news, this will just be another short-term blow without any severe damage for the cryptocurrency market. It will bleed, yes, but not profusely.

https://coinidol.com/us-sec-demands-further-comments-on-cboe-verdict-on-bitcoin-etf/

Price drops after this verdict or some other reasons, can't be said with full surety.

The price rise is not really expected in near future. But you never know, for the crypto market is very volatile. And such kind of fuds have a strong bearing on this market, so cannot predict anything.

This bearish market is unexpectedly happen so near future waiting for some huge pump. But many peoples are don't believe my words now we need proof only then only all are believe the Bitcoin potential. In crypto community everyone know future possibilities of Bitcoin is hard predict then how was you said it will going down trend in future market. I hope Bitcoin is going to peak im end of the year.

[usekevin]

The blows against futures and ETFs have been present for the last couple of months, and amazingly, bitcoin and the economy kept a sturdy stance against it. Right now, the Bakkt Futures might not be accepted by the SEC, and knowing how the market reacts to such news, this will just be another short-term blow without any severe damage for the cryptocurrency market. It will bleed, yes, but not profusely.

https://coinidol.com/us-sec-demands-further-comments-on-cboe-verdict-on-bitcoin-etf/

Price drops after this verdict or some other reasons, can't be said with full surety.

The price rise is not really expected in near future. But you never know, for the crypto market is very volatile. And such kind of fuds have a strong bearing on this market, so cannot predict anything.

This bearish market is unexpectedly happen so near future waiting for some huge pump. But many peoples are don't believe my words now we need proof only then only all are believe the Bitcoin potential. In crypto community everyone know future possibilities of Bitcoin is hard predict then how was you said it will going down trend in future market. I hope Bitcoin is going to peak im end of the year.

You are right. All will accept only the things with some proof. Unluckily the price of bitcoin is below 7000$ .And this is maybe due to decentralised behaviour of bitcoin.I had huge believe in the potential of bitcoin . And waiting for the next pump in the price of bitcoin.Incase ,the price of bitcoin reached the moon. At that time,I will sell my holiding bitcoin.

[exstasie]

Keeping in mind the SECs verdict due in a couple of days, I really wish to understand how Bitcoin Futures stand to assuage any negative impact from the SECs decision.

Quoted from the article-

The physical crypto futures is designed to attract investment from institutional investors, who have so far stayed away from the market. Bakkt, notwithstanding, promises a “regulated ecosystem” where investors can invest in cryptocurrency product.

What verdict would that be? There was a September 30th deadline, but the SEC already delayed that decision, possibly until February next year. They apparently want more input from the public. So I'm not worried about any negative impact from the SECs decision. That's already priced in for the foreseeable future.

As for the effect of Bakkt on the market........the jury is out. It's hard to know just how interested institutions are in this market. Since these are deliverable futures, they could definitely affect the spot market if demand for them is high.

[The Sceptical Chymist]

price stays at $ 6,000  This price is fixed over the past six months but I expect from my point of view that the price will rise to reach the end of this year to unprecedented prices

Yeah yeah yeah, I've been hearing that for a year now, and meanwhile bitcoin has been stalled all the while.  Not that it's stalled at a really bad level, because it isn't.  $6400 is pretty damn good IMO.

I don't know what OP is talking about as far as "bitcoin futures" goes.  As far as I know, there isn't a futures market in bitcoin.  There's a proposed ETF, but that's a different beast altogether.  If there actually was btc futures, you could be pretty much guaranteed we wouldn't be stalled at any price.  The market would be moving like gangbusters.

[Wind_FURY]

The physical crypto futures is designed to attract investment from institutional investors, who have so far stayed away from the market. Bakkt, notwithstanding, promises a “regulated ecosystem” where investors can invest in cryptocurrency product.

I believe the 2007 - 2008 financial crisis too was caused by "institutional investors" that were aggressively engaging in derivatives trading? Plus it too was also a "regulated" ecosystem.

God save Bitcoin.

[cryptocrusher]

SEC is legally not required to make any verdict on the bitcoins  ETFs yet, they moved the date forward till 29th Dec. The odds of its being approved remains 5-10 percent chance within the year. https://www.coindesk.com/vaneck-and-solidx-unfazed-by-the-secs-latest-bitcoin-etf-delay/.
I personally do not think we will get any verdict this year. A rejection is not a death blow to the price of bitcoin as the adoption is gradually on the increase. For now,maybe we should focus on the Bakkt futures back by physical bitcoins which is geared to kick-off in November. JP Morgan is planning something similar.

Futures backed by real bitcoin is what the market really needs. It taps in to the rich resources of large institutional investors who do not wish to go through the hassle of purchashing bitcoin themselves but it actually has a direct influence on the price unlike all of the current futures we have. It will also with that make manipulation using futures far more difficult. I would actually hope to one day see only physically backed futures but I doubt that will ever happen.

Yes in terms of futures this is the only kind that matters. Futures that aren't physically backed are for pure manipulation and betting, not investing. This will mean Wall St firms that use it will have to actually take up some of the Bitcoin supply.

Indeed, they'll buy up some of the supply and that will almost put an end to the manipulation. The issue with physically backed futures is it's much easier to hedge or close a position if things are going sour. With non bitcoin backed futures the physical market can be used in such scenarios.

[StarofBTC]

Keeping in mind the SECs verdict due in a couple of days, I really wish to understand how Bitcoin Futures stand to assuage any negative impact from the SECs decision.

Quoted from the article-

The physical crypto futures is designed to attract investment from institutional investors, who have so far stayed away from the market. Bakkt, notwithstanding, promises a “regulated ecosystem” where investors can invest in cryptocurrency product.

Reference Article- https://blockonomi.com/bakkt-bitcoin-futures/[/size]

The thing is that I would not expect so much to happen regardless of whatever the outcome would end up being. So far, they already made an announcement to move the date forward, so I still believe whatever it is, the market is still acting pretty good the way it wants to act even after the news.

Before we would be able to get any final decision, I would say we will wait for next year, as I do not expect anything serious at all this year. Based on the institutions staying out, they may not be that much yet, or some may still be skeptical, but believe me, institutions have always been present in this space.

[jseverson]

As far as I know, there isn't a futures market in bitcoin.

Bitcoin futures have been available for a while now:

https://www.cmegroup.com/trading/bitcoin-futures.html


Misunderstood that. Thanks extasie!

Futures backed by real bitcoin is what the market really needs. It taps in to the rich resources of large institutional investors who do not wish to go through the hassle of purchashing bitcoin themselves but it actually has a direct influence on the price unlike all of the current futures we have. It will also with that make manipulation using futures far more difficult. I would actually hope to one day see only physically backed futures but I doubt that will ever happen.

I see where you're coming from. Some people are against it though, because it gives financial giants motivation to hoard massive amounts of coins. It's going to drive up prices like crazy for sure, but it also gives them a very sizable influence.

[ERossin]

Possibly we can see bitcoin going down in this year if all the ETF bitcoin contracts are not accepted so this fact will lead to the loss of failth from all investors and users but I hope I'm wrong about this prediction.

[BrewMaster]

Possibly we can see bitcoin going down in this year if all the ETF bitcoin contracts are not accepted so this fact will lead to the loss of failth from all investors and users but I hope I'm wrong about this prediction.

how much more do you think bitcoin price can go down? SEC has already rejected a lot of ETFs this year. i believe the number is close to 10 at the very least. there is only one or maybe 2 more left for them to reject as far as i can tell and i don't see how it can cause any kind of "big" drop anymore!

[exstasie]

As far as I know, there isn't a futures market in bitcoin.

Bitcoin futures have been available for a while now:

https://www.cmegroup.com/trading/bitcoin-futures.html

That's just cash-settled futures. There's no physical delivery, so there's no effect on spot market supply and demand. Cash-settled futures just follow the underlying market.

The OP is talking about futures with physical delivery (offered by Bakkt), which are an entirely different animal. Bakkt, an ETF, or Citi's ADR scheme could all have drastically bigger effects on the market than the CME futures do.

I see where you're coming from. Some people are against it though, because it gives financial giants motivation to hoard massive amounts of coins. It's going to drive up prices like crazy for sure, but it also gives them a very sizable influence.

If institutions aren't hoarding BTC, someone else will. Don't you worry about that.

[wuvdoll]

The blows against futures and ETFs have been present for the last couple of months, and amazingly, bitcoin and the economy kept a sturdy stance against it. Right now, the Bakkt Futures might not be accepted by the SEC, and knowing how the market reacts to such news, this will just be another short-term blow without any severe damage for the cryptocurrency market. It will bleed, yes, but not profusely.

The fact that bitcoin and the crypto economy has been doing well even with all the delays in the ETF approval shows candidly that it does not really have any serious or big effect on bitcoin and the cryptocurrency space in general.

Even if the market react to the news as you said, the price would have just ended up being manipulated anyway to please the whales in the way they want the market to move and as long as the market is still speculative, I really would pay much attention to price actions, than pay attention to some ETF news. Sure, in the long run, the whole ETF thing would usher in growth since more money will likely flow into the space.