Bakkt the subsidiary company of the Intercontinental Exchange (ICE), that is the company that sees the New York Stock Exchange as one of its properties, announced that it is starting to launch acceptance tests for users who have Bakkt Bitcoin Daily contracts and Monthly Futures.
The tests at the time, according to when also reported by Sam Doctor the Quant Strategist of Fundstrat, Bakkt bitcoin futures could be launched in the market towards the end of the quarter, ie by the 30 September of the 2019.
This news of the initiation of tests by Bakkt did not lead to a Bitcoin price increase (see bitcoin quotation ), as some expected, indeed there was a decline but that could be far from this specific news.
According to some experts, new market launches bitcoin based futures contracts and consequently settled in BTC, and other financial products with a similar matrix, could make it easier for the main institutional sector investors to adopt this asset.
The Bakkt futures in fact they will be completely also regulated by the legal point of view, for this reason they would also adapt to institutional investors. So buying these futures would mean buying BTCs for all purposes, only that Bitcoins will then be stored and regulated by the Bakkt wallet.
The CEO of CoinShares, Meltem Demirors, congratulated Bakkt for starting these tests, according to him in this way it is possible to approach the many changes in the Bitcoin market, also he will be a protagonist also of the radical change that is taking place in recent times in the cryptocurrency market.
The introduction of these futures could be a good move for Bakkt, according to hedge fund data the demand for this cryptocurrency by institutional investors it is growing, and other data from the exchange also suggests an increase in demand.
In any case, before launching this new futures, we wait the approval of the CFTC which has not yet arrived.