Bitcoin futures platform Bakkt recently took the lead in terms of delivering substantial innovation for the crypto community. As per the company’s latest announcement over Twitter,
“On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23.
These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody.”
Previously, after getting the green signal from CFTC, Bakkt had publicly announced its launch for September 23. Moreover, the platform is scheduled to go live with daily and monthly physically-delivered Bitcoin futures contracts in partnership with ICE Futures US and ICE Clear US.
This move holds significance for the crypto community as unlike other futures exchanges, Bakkt’s business model allows users to settle their orders in Bitcoin, and not just the fiat equivalent to the price of bitcoin. As a result, it is speculated to ensure better price discovery and liquidity for Bitcoin and everyone in the space.
Arijit is a full-time journalist at AMBCrypto, who focuses on the XRP and Ethereum ecosystem. Leveraging over three years of experience in media and Majoring in Computer Science, he covers the technical developments in the crypto ecosystem