Bitcoin 2019 Calendar: Here’s the Most Important Dates for Crypto Institutionalization This Year
More than a year passed since Bitcoin reached $20,000 and analysts were predicting an extended bull market for 2018. At that time, Bitcoin (BTC) experienced a bull run due to the launching of Bitcoin futures contracts by the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME).
Nevertheless, the market was too euphoric, prices dropped and 2018 ended in a bear market that affected the whole industry. Now, enthusiasts and analysts believe that Bitcoin and virtual currencies could soon receive a new influx of funds from institutional investors.
There are some important dates that investors and individuals should remember since they are related to institutions entering the market.
One of the first things that will happen in 2019 is related to the Bakkt platform. The Intercontinental Exchange (ICE) created this platform for mainstream investors to enter the market without having to be worried about how they manage their virtual currencies.
Although the platform was announced for December 2018 it was delayed for January 2019. Nevertheless, due to bureaucratic reasons, the platform could end up being launched as soon as February 2019, not before. Kelly Loeffler wrote in a recent blog post that in a few days they will be providing clear information about the launching date for this platform. The U.S. Commodities and Futures Trade Commission (CFTC) must approve the proposal made by the ICE.
Bakkt will also offer Bitcoin futures contracts settled in Bitcoin. This is different compared to what the CBOE and the CME offer, which are cash-settled.
Another important thing that is expected to have an important impact on the market is the possible approval of the first-ever Bitcoin exchange-traded fund (ETF). VanEck and SolidX presented a Bitcoin ETF proposal to the U.S. Securities and Exchange Commission (SEC).
During 2018, a final decision regarding this ETF has been delayed by the regulatory agency. However, on February 27, things can change since the SEC will have to decide whether it approves his Bitcoin ETF or not. The decision can be taken days before, however, it might wait a few days before the already stipulated date if a decision has been taken.
Furthermore, Nasdaq is also going to launch its own Bitcoin futures in 2019. The intention is to launch it during the first quarter of 2019. Although there are no details related to how these Bitcoin futures will be operating, analysts expect it to be launched before the end of the first quarter of this year.
There are many different things that would help institutional investors to enter the market. Now it is time to wait and see the real effect that these decisions will have on the price of the most popular virtual currency.