Bakkt Announces First Project LaunchIn a blog posted earlier today, Bakkt chief operating officer Adam White wrote:
“On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.”He furthered:
“This is no small step. This launch will usher in a new standard for accessing crypto markets. Compared to other markets, institutional participation in crypto remains constrained due to limitations like market infrastructure and regulatory certainty.”Bakkt's Bitcoin futures offering has seen multiple delays due to regulatory compliance. It was first announced in August 2018, and investors have been eagerly awaiting its arrival since. In addition to announcing the date, ICE provided new details regarding Bakkt’s monthly contract, as well as specifications for its daily contract. The key details are as follows:
- Each contract will contain one Bitcoin. And both monthly and daily contracts will see a minimum price fluctuation of $2.50 per Bitcoin.
- Trades may be executed at $0.01 per Bitcoin and can list for as long as 12 months for monthly contracts or 70 consecutive days for daily contracts.