Bakkt Announces Sept. 23 Launch of Futures and Custody Platform in US

[Slow death]

Here's the big news (at least I hope this is big news):

Bakkt Announces Sept. 23 Launch of Futures and Custody Platform in US



Bakkt has announced the coming launch of its much-anticipated platform for daily and monthly futures in the United States in a blog post on Aug. 16. Having received approval from the necessary regulators, the launch is scheduled for Sept. 23. 

Bakkt’s physically delivered futures have been the subject of a great deal of anticipation, with the company initially announcing its launch August 2018 before being subject to repeated delays over compliance issues. Satisfying the Commodity Futures Trading Commission (CFTC) has proven particularly challenging. The company began testing in earnest on July 22, as Cointelegraph reported at the time.

Per the announcement, Bakkt has hosted numerous events in New York and Chicago — cities critical to the U.S. futures market. They have also sat down with regulators from the CFTC as well as the Securities and Exchange Commission (SEC).

Bakkt will be partnering with Intercontinental Exchange Futures U.S. and Intercontinental Exchange Clear U.S. to provide its futures contracts.

Institutional services and custody have been a growing market in crypto, with major U.S. exchange Coinbase announcing the addition of Xapo’s Institutions into its custodial operation last night. After the announcement, Coinbase CEO Brian Armstrong commented on the major rise in institutional clients for crypto services, saying:

“Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.”

Read more: https://cointelegraph.com/news/bakkt-announces-sept-23-launch-of-futures-and-custody-platform-in-us


PS: People can also read this news here:

https://medium.com/bakkt-blog/cleared-to-launch-8dfc3e6f9ed0

because these bitcoin-related news channels are not very reliable but luckily they posted the source of the news

If we look at this news about BAKKT, then look at this news: Coinbase CEO: Institutions Depositing $200-400M Into Crypto Per Week

we can say that big investors are already entering this market and that the future could be very good

[Kemarit]

It looks like it has a positive effect on the market price already, as the price seems to hover around $10,400-$10,500. I know that everyone in this community grew tired of waiting, but hey finally it's hear and I'm sure the hype will be back. So with this news + the high expectation on the scheduled bitcoin halvening next year, everyone is going to be excited and we will hear the word "moon" again. So $15,000 in September prior the the scheduled launch? And then sky is the limit again? What do you guys say?

[gentlemand]

I see no particular reason why this won't sink without trace like every single other thing that's hyped, either by itself or others.

What counts is that it's been built and will be available when the mania appears. I hope they have the gumption to keep it open even if things go seriously quiet or they may end up like Circle and keep closing things that would've made them billions if they'd hung on for a short while.