[2018-10-26]US Regulators to Approve Bakkt Bitcoin Futures Roll Out Next Month

[Vladdirescu87]

The Intercontinental Exchange’s (ICE) Bakkt crypto platform could obtain approval to roll out its physically-delivered Bitcoin futures commodity from U.S regulators in the coming week.

Bakkt, which wants to form a “regulated ecosystem” for potential institutional investors aiming to increase exposure to digital currency, had lately ratified it planned to roll out its futures product December 12, 2018.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/us-regulators-to-approve-bakkt/

[KryptoKai]

An earlier than planned release will catch a lot of traders off guard. They will probably try to play the pump and dump game where they buy the rumor and sell the news. Hopefully this will be released soon to avoid price manipulators from cashing in

[Harlot]

This is good news but I don't see how the market will react to this as all of our heads are mostly concentrated still on ETFs. Also in the short term if other people will see this as good news we might see some good price action but in the long term it would simply depend on how successful their service will be on connecting all the parties in the cryptocurrency world, if they do we might see an increase in demand and of course it will also make the market bullish, but that is me being optimistic with their service.

[1Referee]

An earlier than planned release will catch a lot of traders off guard. They will probably try to play the pump and dump game where they buy the rumor and sell the news. Hopefully this will be released soon to avoid price manipulators from cashing in

There is no buy the rumor sell the news in this case, simply because the market doesn't seem to care about Bakkt.

In the end, most participants currently have bought coins already, or have been forced to hold their bags during this bear market; there is no buying happening that will steer the market higher based on these developments. In other words, we're left with sellers mostly, and as soon as the price climbs back up, they'll help dump the price back down to where it started.

Keep in mind that Bakkt doesn't buy spot coins, which is what people tend to overlook, so there is no reason why the price should go up.

[gentlemand]

So an 'unidentified' source says approval 'could' happen and Bakkt themselves advertise as subject to regulator approval.

Was there a need for an article about this? I'd rather read about the possibility of invasion of well hung aliens that might happen if they exist and can be bothered to turn up. At least it would be a entertaining.

[squatter]

An earlier than planned release will catch a lot of traders off guard. They will probably try to play the pump and dump game where they buy the rumor and sell the news. Hopefully this will be released soon to avoid price manipulators from cashing in

There is no buy the rumor sell the news in this case, simply because the market doesn't seem to care about Bakkt.

Since Bakkt needs CFTC approval and hasn't received it, maybe the rumor isn't substantive to the market yet. Maybe the "rumor" is regulator approval and the "news" event will be the actual launch. I think that's what it was like with the CME futures last year. The actual launch of the market coincided with a selloff.

Was there a need for an article about this? I'd rather read about the possibility of invasion of well hung aliens that might happen if they exist and can be bothered to turn up. At least it would be a entertaining.

Nope, nothing new here. Bakkt has been saying for a while that they're waiting for CFTC approval.

[rodskee]

Good news i think this action is one of the best solution for price manipulation
Regulation for cryptocurrency aren't good ideas but if this is a way to contorl the price manipulation why not

[pixie85]

I think that it will get approved anyway. This article may be spaculating without proof but bakkt is such a huge project that it will go through anyway. We don't know if it will happen in December for sure but bothe it and CBOE ETF will get approved next year, I can bet on it.

[BitHodler]

Since Bakkt needs CFTC approval and hasn't received it, maybe the rumor isn't substantive to the market yet. Maybe the "rumor" is regulator approval and the "news" event will be the actual launch. I think that's what it was like with the CME futures last year. The actual launch of the market coincided with a selloff.

Vaneck ETF needs approval too and it still affected the market, and that while the SEC has never really been signalling willingness to let it go through. People finally accepted it's not worth reacting to anymore.

CFTC on the other hand has already approved a financial instrument tied to Bitcoin, and for that reason is more likely to accept that what Bakkt offers, but the market doesn't seem to give a shizzle about it at all.

The overall mood is to ignore everything that's bullish because it won't be able to lift the price out of its current range for long. It's definitely bad timing to launch anything related to crypto this year.