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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.
After some difficulties in the past, Bakkt will soon launch Bitcoin Futures. The initiative of the Intercontinental Exchange (ICE) will begin on 22 July 2019 with the first test runs. The responsible regulator, the Commodity Futures Trading Commission (CFTC), makes long-awaited financial products possible after complications in terms of content. Institutional investors now have easier access to the crypto-economy.
In a blog entry on Medium, Bakkt-COO Adam White announces the long-awaited date for the trial launch of Bitcoin futures on his platform. In the July 13, 2019, White announces the beginning of user testing for BTC futures on July 22, 2019. Bakkt is an initiative of the big Intercontinental Exchange (ICE).
Numerous delays in the start date
Initially, in August 2018, Bakkt announced the introduction of BTC futures. Due to regulatory uncertainties, however, the platform had postponed the launch date of the product several times. The complexity of the futures made it difficult for the competent supervisory authority to grant timely approvals. Thus, the CFTC (Commodity Futures Trading Commission), among other things due to the Government Shutdown in the US, make no final decision.
Launch dates in December 2018 and January 2019 had already postponed Bakkt. Now, with the 22nd of July 2019, they finally settled on a final date. The long wait for the launch of futures on Bakkt also impacted on the BTC rate at the same time. In May 2019, it shot up after a Bakkt announcement on the futures launch in the air.
Test phase for Bakkt Futures
COO White compares the start of the test runs for Bakkt Futures accordingly with the moon landing.
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