Everything You Need to Know About the Bakkt Launch
Bakkt starts Dec 12th, 2018 supposing the CFTC doesn’t block them. That means daily futures contracts start Dec 12th. We explain the Bakkt launch.
UPDATE:Bakkt’s Jan 24th 2019 launch date has been pushed back. The new launch date is not set, but the plan is to announce it in early 2019.
First, here is the official word:
According to ICE: Pending regulatory approval, ICE will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on Wednesday, December 12, 2018.
The key points to understand related to the Bakkt launch are:
- Bakkt is the holy grail of crypto 2018. Understand why by reading this page on Bakkt.
- Bakkt is under the jurisdiction of the CFTC (the Commodity Futures Trading Commission) as Bakkt is dealing in futures as phase 1 of their rollout.
- Assuming the CFTC doesn’t obtain in the way in which, daily futures will start Dec 12th.
- Interesting, Bakkt’s parent company ICE doesn’t need pre-approval from the CFTC, they can self-certify Bakkt due to their status as a “designated contract store. ” For the CFTC to “obtain at how ” they would have to reject ICE’s filing. This means we potentially won’t understand exactly the fate of Bakkt before D-day (Dec 1-2 ). The newspapers will probably go on the CFTC’s internet site when all is all set to roll up (watch: https://sirt.cftc.gov/sirt/sirt.aspx?Topic=TradingOrganizationProducts).
- One day contracts would be exactly like they seem. It’s really a futures contract which excels in Bitcoin the following moment. Which means that you purchase a futures contract, then the overnight you have Bitcoin on your accounts. That is different compared to the futures that are cash settled. This is an item for purchasing, not spending, Bitcoin.
Next here’s Jake Chervinsky Explaining whatever you Want to know concerning Bakkt, such as some important items I didn’t cover (go here to read the whole thread; I used ICE, Bakkt, and Jake as sources on the information I gave you above, you should follow Bakkt, ICE marketplaces, and Jake on Twitter):
0/ @Bakkt plans to launch next month on December 12, and some people are hoping it kicks off another crypto bull run. Now seems like a good time for a quick discussion on:
— what Bakkt is
— why it might be exciting
— when it will obtain regulatory approval
— Jake Chervinsky (@jchervinsky) November 6, 2018
To obtain more information on Bakkt:
- See our page on Bakkt.
- See the official ICE page on Bakkt contracts.
- See the official announcement on Bakkt contracts going live: OCTOBER 22, 2018 BAKKTBITCOIN (USD) DAILY FUTURES CONTRACT TO BEGIN TRADING ON DECEMBER 12, 2018.
Bottomline:Assuming all goes as planned and the CFTC doesn’t deny ICE’s self certification of all Bakkt, Bakkt goes live Dec 12, 2018.
“Bakkt Goes Live on Dec. 12, 2018” comprises advice concerning the next Cryptocurrencies:
Crypto ETFs / / ETNs / Trusts / Funds / etc.