Bakkt’s Moonshot bitcoin futures platform is scheduled to start testing today and in the coming altcoin news, we are about to refresh our memories and rear more about it.
The bitcoin futures platform has been long-delayed and it is expected to start testing today. The platform is aimed mainly at institutions and it is widely expected to change and boost the markets and especially the price of the number one cryptocurrency. As it was reported by Fundstrat last week, the investors are waiting patiently for the launch on the sidelines.
“There appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch… The launch could be a huge accelerator for market growth.”
Bakkt’s Moonshot which was rolled by the Intercontinental Exchange (ICE) which is the parent company of the New York Stock Exchange and both Microsoft and Starbucks is not the most anticipated launch of the year. According to a post written on Medium by Adam White in June, the platform will begin the user acceptance testing today:
Bank-rolled by the Intercontinental Exchange (ICE) – the parent company of the New York Stock Exchange – as well as Starbucks and Microsoft, Bakkt is the most anticipated launch of 2019.
“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.”
While the bitcoin futures trading is not a novelty, Bakkt brings fresh air on to the table. The futures contracts are basically settled in Bitcoin so the investors will receive a real allocation of BTC at the end of the contract period. Also, the CME bitcoin futures are tracking the spot price and are settled in cash but they never actually touch bitcoin. Bakkt will also provide institutional-grade custody for digital assets and this will be fully regulated. The company applied for a trust license which makes it possible to act as a qualified custodian with more than $100 million in insurance coverage.
The market research company Fundstrat, stated last week that Bakkt will be a major booster for the price of bitcoin since more than 150 institutional investors and service providers who attended the digital asset summit last week responded positively on the project as it was reported in the latest cryptocurrency news.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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