The owner of the New York Stock Exchange (NYSE) which is the Intercontinental Exchange (ICE), has recently announced that it would delay the launch of the much-anticipated Bitcoin futures product until January 24th, 2019. The announcement is everywhere in the Bitcoin news section.
The product, which is the Bakkt Bitcoin (USD) Daily Futures Contract, had been scheduled to go live on December 12th this year. More importantly, it was meant to provide US investors with their first opportunity to trade a physically-settled crypto futures product on a respected and regulated mainstream exchange.
According to ICE, the delay would afford the firm additional time to onboard customers before it begins warehousing BTC and before the launch of the futures market accordingly. As the official announcement reads:
“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”
According to analysts, there are speculations that Bakkt’s scheduled December launch could help and catalyze a new year-end crypto market rally – with bulls such as Tom Lee predicting that the price of Bitcoin can ascend to as high as $15,000 before 2018 ends.
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