Bakkt Bitcoin Cash-Settled Futures to Launch on ICE Singapore Next Month

  • Bakkt to launch cash-settled monthly bitcoin futures contracts
  • These contracts will be listed on ICE Futures Singapore on December 9

Intercontinental Exchange is now launching the Bakkt Bitcoin Cash Settled Monthly Futures contract, announced the leading operator of global exchanges on Nov. 21.

These cash-settled monthly futures will be settled against the data from the physically delivered Bakkt Bitcoin futures, the first regulated futures markets for digital assets. Lucas Schmeddes, President & COO of ICE Futures and Clear Singapore said,

“Our new cash-settled futures contract will offer investors in Asia and around the world a convenient, capital-efficient way to gain or hedge exposure in bitcoin markets,”

“Building off the success of our deliverable futures contract, the cash-settled futures will leverage ICE’s regulated, globally-accessible market to offer a safe, secure and compliant environment for the trading of bitcoin.”

These new contracts are expected to be listed on the MAS regulated ICE Futures Singapore on December 9 and will be cleared by ICE Clear Singapore.

As we reported earlier this week, on the back of interest from hedge funds and asset managers, the Monetary Authority of Singapore (MAS) stated that they are planning to list and trade crypto derivatives on approved domestic exchanges. Jennifer Ilkiw, vice president for the Asia Pacific at ICE at that time said,

“A clear regulatory framework will support the healthy development of digital-asset markets.”

Trading of these crypto derivatives will also be subject to the Securities and Futures Act. Retail investors are meanwhile “strongly” advised not to participate in this.

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