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Cryptocurrencies

Bakkt delays its bitcoin futures trading platform launch

Friday 23 November 2018 | 10:59 AM CET

Bakkt has announced that the bitcoin futures trading platform, unveiled in August 2018, has been postponed its formal launch to 24 January 2019.

Trading and warehouse operations are both expected to begin on that date as well. I has been explained that the new listing timeframe has the purpose to provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract. What contributed to the delay were the volume of interest in the company, as well as the work required to get all the pieces in place.

The launch of Bakkt’s futures trading was anticipated to occur on 12 December 2018, however, the new date is still subject to regulatory approval. Also, the platform previously revealed it would launch physically-settled bitcoin futures, which means that clients would receive bitcoin upon the expiration of their contracts, rather than the token’s cash equivalent.

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