Bakkt, a global digital asset firm owned by International Exchange [ICE], announced that the organization will launch acceptance testing for its Bitcoin futures contracts today [22nd July 2019].
In a recent medium post released by Adam White, COO at Bakkt, it was mentioned that the Bitcoin futures product would be listed and trading will be enabled on the ICE futures U.S and also at ICE Clear U.S. The post indicated that the firm would provide cooperative financial products to the users by offering “regulated custody” for their daily and monthly margin BTC future contracts.
Fundstrat had released a report and they mentioned that Bakkt’s presence in the market could create a situation of massive “institutional participation” in the crypto space. However, they also said,
“CFTC commissioner Dawn Stump discussed the CFTC’s derivatives regulatory and enforcement duty and its role sharing market perspectives with the Financial Stability Oversight Council [FSOC]. There isn’t a cryptocurrency that could threaten financial stability yet.”
The article will be updated as the story develops.