Bakkt Bitcoin Futures Prepares for Launch Warehouse & Custody Service Goes Live
Bakkt Bitcoin Futures Prepares for Launch Warehouse & Custody Service Goes Live

How Will Futures Affect the Bitcoin Ecosystem?

Founded in August 2018, Bakkt was founded to be an open and regulated global ecosystem for digital assets. Bakkt was founded by InterContinental Exchange (ICE), an American company that owns exchanges and commodity markets. One of the first services Bakkt offered was trading and conversion of Bitcoin for fiat currencies.

Recently, Bakkt has launched its Bitcoin custodial service in New York in preparation to their Bitcoin futures launch.

Bitcoin Futures and How It Might Impact the Market

As previously mentioned Bakkt's Bitcoin futures will launch on September 23rd. This might have deep market implications.

In a blog post, Bakkt's CEO Kelly Loeffler outlined a few very positive aspects of Bitcoin futures.

"Bakkt is bridging that gap to access this market and solve for factors that have slowed institutional participation. Whether concerns relate to a lack of liquidity, market quality and regulation, or issues with reliability, fees, and operational risks, we are addressing these challenges with a transparent offering."

In a nutshell, Bakkt claim that they will increase institutional adoption of cryptocurrencies. In addition to that the futures market will cut down on market manipulation and other malpractices. It also might reduce Bitcoin's volatility, which can be seen as a double-edged sword.

In total Bakkt's future launch could be seen as a positive development in the world of Bitcoin. It might increase institutional adoption and expand Bitcoin's popularity among institutions.

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Written by Jonathan Ganor

Writer & cryptocurrency aficionado

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