Bakkt Declares its First Bitcoin Futures Contracts, Launch Scheduled for Novembe

[Goodcat49]

In a key twitter proclamation, the team at the highly anticipated Wall Street company of Bakkt acquainted the Cryptocurrency and investing group of its initial physically fixed Bitcoin (BTC) futures contracts.

In a tweet, the team at Bakkt proclaimed that:

“Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.”

SEC Approval of BTC ETF
This latter action of safely keeping Cryptos has been put forward as one of the major reasons the U.S SEC might ratify a Bitcoin ETF sooner or later. Backed by ICE, Bakkt clears the puzzle of custody services for potential institutional investors. The absence of a significant Exchange offering custodial services has been raised as a reason the US SEC might be delaying the approval of a BTC backed ETF.

CNBC's Brian Kelly elaborated on this when he noted the following:

“This is huge news. I think the market is completely underappreciated. So let us talk about why [Bakkt] is the biggest news of the year for Bitcoin.
It paves the way for a Bitcoin ETF. Last week I stood here and said you know what, I don’t think the Bitcoin ETF will get approved. And guess what? The Winklevoss ETF got rejected. Why?
Because there was not a US regulated exchange and there wasn’t US regulated custody.”

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bakkt-declares-its-first-bitcoin-futures-contracts-launch-scheduled-for-november/