The Significance of Bakkt Launching Its Bitcoin Futures Contracts After Challenges With SEC

We can call the US' Securities and Exchange Commission a lot of things, but fast is certainly not one of them. That turns out to be a somewhat good thing, however, as it gave them the time needed in order to filter the great from the bad ideas, especially where it relates to Bitcoin Futures.

According to the major investment company Bakkt, which took to Twitter to announce the good news, it is now officially ‘set to launch' the first of a wave of physical Bitcoin Futures contracts that have been approved by the SEC.

According to Bakkt's CEO, Kelly Loefler, the SEC certainly didn't waste that time they . had to consider the company's futures contracts. With the launch representing the first or what may be many futures contracts to come.

“Our contracts have already received the green light from the CFTC through the self-certification process and user acceptance testing has begun.”

“With approval by the New York State Department of Financial Services to create Bakkt Trust Company, a qualified custodian, the Bakkt Warehouse will custody bitcoin for physically delivered futures,”

Loefler continues.

“This offers customers unprecedented regulatory clarity and security alongside a regulated, globally accessible exchange in a market underserved by institutional-grade infrastructure.”

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James Fox
James Fox
Cutting his teeth in the world of startups and Fintech, James went on to gain a profound interest in Cryptocurrencies and blockchain, investing in Bitcoin, Ethereum and LiteCoin, but never letting it weigh on being objective. Now working full time as an editor for a blockchain gaming site, James still lends his writing abilities and contacts out on a freelance basis, thanks to his marketing experience with other projects.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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