ICE’s Bakkt Sets New Launch Date For Bitcoin Futures

Digital Assets Platform Bakkt, created by Intercontinental Exchange (ICE), has set a new target date of January 24, 2019 for the much-awaited launch of the Bakkt Bitcoin (US dollar) Daily Futures contract for trading, and the Bakkt Warehouse. The trading was initially set to go live on ICE Futures US on December 12, 2018.

The delay in listing will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract. The new listing date is subject to regulatory approval.

This may also provide investors in the U.S. an opportunity to trade in physically-settled crypto futures product that will result in physically delivered Bitcoin in the regulated Bakkt Warehouse. CME and CBOE offer trading in Bitcoin futures that are cash-settled.

Each futures contract calls for delivery of one Bitcoin held in Bakkt Warehouse, and will trade in U.S. dollar terms. One daily, the contracts will be listed for trading each exchange business day.

The Bakkt Warehouse will feature warm & cold wallet insurance. Though the insurance for Bitcoin in cold storage is ready, the process is on for securing insurance for the warm wallet within the Bakkt Warehouse architecture.

ICE had announced in early-August the plan to launch a digital assets ecosystem through the new startup company called Bakkt, which will leverage Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets.

ICE is the operator of 23 regulated global exchanges and marketplaces, including the New York stock Exchange.

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