Bakkt to List Bitcoin Futures in the Coming Months
Much-anticipated and oft-delayed crypto trading platform Bakkt confirmed today that its bitcoin futures will be listed on a federally regulated futures exchange in the coming months.
"In conjunction with our exchange and clearing partners at ICE [Intercontinental Exchange, the parent company of the New York Stock Exchange,] we’ll be working with our customers over the next several weeks to prepare for user acceptance testing (UAT) for futures and custody, which we expect to start in July," Kelly Loeffler said in a blog post, adding that more details are yet to be announced.
Bakkt has long been regarded as a big step of traditional investors into crypto that could boost the adoption of Bitcoin and other digital assets.
The partners and investors in Bakkt include companies such as Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Starbucks, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures.
Reportedly being valued at around USD 740 million, Bakkt will need a lot of trading volume to ensure satisfying returns to their investors, as reported.