Bakkt Reveals Bitcoin Futures Details – Here’s How it is One-Up on CME

The much anticipated Bakkt ‘Bitcoin [BTC] futures contracts’ is scheduled for launch on 23rd September 2019. While these are not the first regulated Bitcoin [BTC] futures contract with BitMEX and CME currently leading the space, Bakkt’s is one-up on all existing platforms.
The Bakkt contracts will be margined and as mentioned before – can be settled using Bitcoins itself. Hence, it can also be used as an alternative to unregulated spot markets as it has custody arrangements as well. Moreover, Bakkt will offer:
• Bakkt Bitcoin (USD) Daily Futures
• Bakkt Bitcoin (USD) Monthly Futures
The CME provides only monthly Bitcoin Futures contracts. The daily contracts would likely increase the volatility in the everyday price of Bitcoin. Nevertheless, the regulated platform will improve the fundamentals around Bitcoin [BTC] massively.
Rhythm, a crypto-trader talked about the advantage of Bakkt over CME and its effect on Bitcoin markets, he tweeted,
Unlike other futures exchanges, this is settled in bitcoin. Actual bitcoin is paid out, not just the fiat equivalent to the price of bitcoin.
The result is better price discovery and liquidity for bitcoin.
Kelly Loeffler, the CEO of Bakkt, told the media, that the core service Bakkt will offer is “secure, regulated custody,” alongside its institutional-scale trading.
The monthly futures contract on Bakkt is based on “forward pricing curve” for investors, giving them an option to see prices up to 12 months. She specifically talked about the halving schedule due next year; which will be enabled for speculation through the monthly contracts.
Also Read: 5 Reasons Why Bakkt’s Launch is BIG News for the Crypto Community
Furthermore, as the daily contracts are margined, it will provide a lot of space for institutional money to get involved in the day to day activities around it.
The Bakkt launch data announcement has had an extremely positive effect on the Bitcoin’s price. The price of Bitcoin at 3: 30 hours UTC on 20th August 2019 is $10,800. Bitcoin has gained about 6% since the announcement.
Do you think that daily futures contracts will increase the volatility or decrease it? Please share your views with us. 
The post Bakkt Reveals Bitcoin Futures Details – Here’s How it is One-Up on CME appeared first on Coingape.
Source: CoinGape

Bakkt Is Our ‘Moonshot Bet’ Says ICE CEO, Plans to Launch the Platform Later This Year

CoinSpeaker

Bakkt Is Our ‘Moonshot Bet’ Says ICE CEO, Plans to Launch the Platform Later This Year

ICE CEO Jeff Sprecher talked about how his team is working diligently for the launch of Bakkt and why he continues to hold utmost faith in Bitcoin.

Bakkt Is Our ‘Moonshot Bet’ Says ICE CEO, Plans to Launch the Platform Later This Year

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Source: CoinSpeaker

The Much-Anticipated Bakkt Platform Announces High-Ranking Vacancies

CoinSpeaker

The Much-Anticipated Bakkt Platform Announces High-Ranking Vacancies

The Bakkt platform is not letting multiple delays cringe their business strategies. They have announced vacant positions targeting to hire experienced and top-ranking executives.

The Much-Anticipated Bakkt Platform Announces High-Ranking Vacancies

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Source: CoinSpeaker

Thanks US Shutdown: Why Bakkt and Others Will Likely be Delayed

CoinSpeaker

Thanks US Shutdown: Why Bakkt and Others Will Likely be Delayed

The ongoing government shutdown achieved a new milestone on Friday by hitting the record for the longest shutdown in US history. While all the spheres are negatively affected, this has laso put key developments in the crypto space on hold.

Thanks US Shutdown: Why Bakkt and Others Will Likely be Delayed

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Source: CoinSpeaker

Bakkt to Foster Institution & Consumer Participation, No Leverage & Margin on Bitcoin Contracts

Bakkt, the digital asset platform by NYSE’s owner and backed by Microsoft and Starbucks is working hard at building a transparent and an institutional quality ecosystem for digital assets. CEO Kelly Loeffler explains that they are offering full collateralized or pre-funded bitcoin buying and selling meaning there will be no leverage or margin involved.
NYSE owner’s Bakkt hard at work
It’s been only two weeks that NYSE’s owner, Intercontinental Exchange announced the “launch of regulated, physical Bitcoin futures contract and warehouse planned for November 2018.” Bakkt, a global platform “designed to bring digital assets to the mainstream and help unlock the potential of this important technology.”
In its latest official blog, Kelly Loeffler, the CEO of Bakkt is talking about being already at work on creating an open and regulated ecosystem for digital assets. She shared how in 1999, Nobel Laureate Milton Friedman has predicted the emergence of e-cash and “now are we seeing the promise of a true digital currency.”
From regulated, institutional trading and security solutions to offering more transaction choices to a customer, Bakkt is working on the wider application of digital assets.
The news of the Bakkt has been seen as one of the most important ones for the investors and experts alike. And given the giants viz. Microsoft and Starbucks included in this, it certainly holds a lot of potential for the future of the crypto market. Loeffler acknowledged the “very strong” response they received from worldwide.
People are certainly feeling positive as Mike Strutton of Ironwood shared:
“We may think #ETFs are the big story for #Bitcoin. I believe @Bakkt & “physical” bitcoin futures are going to drive the price – their vision for institutional and consumer retail sounds strong. November will be exciting. Congrats to CEO Kelly Loeffler, woman in crypto.”
Also, read: PwC & NYSE Top Executives Quit to Join BitcoinFirms
Fully collateralized Bitcoin buying & selling
Talking about the widespread need for a trusted infrastructure for storing, spending and trading cryptocurrencies. In order to achieve this, they are working on the “proven framework” comprising of, a consistent regulatory construct, transparent, efficient price discovery, and an institutional quality pre- and post-trade infrastructure.
With a special emphasis on “price discover”, she shares that “trusted price formation is a fundamental part of advancing the promise of digital currencies.” She further talks about not allowing margin or leverage on their contracts stating:
“Specifically, with our solution, the buying and selling of Bitcoin is fully collateralized or pre-funded. As such, our new daily Bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset. This supports market integrity and differentiates our effort from existing futures and crypto exchanges which allow for margin, leverage and cash settlement.”
She further adds:
“Coupled with a secure, regulated warehouse solution, you can begin to see how this market infrastructure can help more institutions and consumers participate in the asset class.”
However, some were quick to point out as did Caitlin Long, a Wall Street veteran,
“Interesting response from @Bakkt today. For #bitcoin this is good news/bad news. First the good–Bakkt disclosed it’s not using margin or leverage (explicitly). That’s positive. But then the bad–it was silent about hidden leverage, which is subtle…”
The blog also points out the fact that the market cap recently dropped below $200 billion but ICOs, corporate R&D and venture investing is still going strong in this arena. This potential has the team excited about the upcoming launch.
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Source: CoinGape