US Regulators Could Approve Intercontinental Exchange's Bakkt BTC Futures Launch in November

Could US Regulators Approve Bakkt BTC Futures Launch In November?

A new unconfirmed rumor has been surfacing in the crypto market lately, that the U. S. regulators will let the Intercontinental Exchange’s (ICE) new crypto platform Bakkt offer Bitcoin (BTC) futures in the first week of November.

The Block Crypto has recently reported that sources with a direct knowledge of the situation are affirming that the Bitcoin futures will be approved. Bakkt has been reuniting a lot with the Commodities Futures Trading Commission (CFTC) and sources say that the agency could approve Bitcoin/USD daily futures contracts by the first week of November.

Before the rumor, Bakkt had officially announced that the product would start to be offered on December 12 pending regulatory approval from the agency but it looks like the answer may come sooner than we all thought.

It is important to notice that Bitcoin futures are not very hot right now, too, as CME Group and CBOE Global Markets are the only two companies trading them at the moment and even they are currently struggling to sell many daily contracts.

However, as the Bitcoin futures that will be offered by Bakkt will be physically-settled futures and not cash-settled ones, which will differentiate them from the contracts that can be found in other companies because the trader will receive the contract in Bitcoin, not cash.

The Block Crypto has also reported that DV Trading, a Chicago trading shop, will sell Bakkt’s product and that Goldman Sachs is also considering to do it. Is this the beginning of a new era of Bitcoin futures contracts? It is still too early to know but we can only hope.

Will this have an impact in the Bitcoin exchange-traded fund (ETF) that the Securities and Exchange Commission (SEC) is currently deciding to allow or not? Also another important issue, but we do not believe that there is a direct correlation between the two issues.

About Bakkt

Bakkt will be the new crypto exchange created by the Intercontinental Exchange, which owns the New York Stock Exchange. The main goal of the company will create a fully regulated ecosystem for the investors who are currently looking to invest in cryptos with safety.

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