Just last year, the Intercontinental Exchange (ICE) announced plans to establish a regulated market for Bitcoin trading and other digital assets in the US. With this in mind, it founded its own company: Bakkt. On Monday, July 22, the project moves into the next phase, as Bakkt plans to start user acceptance testing for its Bitcoin futures. The choice of date is no accident: the preceding Saturday marks the fiftieth anniversary of the moon landing.
According to the company, the Bitcoin (BTC) futures – which will be issued as real tokens – will be listed and traded on ICE Futures US and margined by ICE Clear US. This will provide institutional investors with an entirely new access route to Bitcoin and marks an important step towards establishing the cryptocurrency as an asset.
Bakkt COO Adam White commented: “This is no small step. By introducing this, we are establishing a new standard for access to crypto markets. Compared to other markets, institutional investment in crypto remains limited due to restrictions such as market infrastructure and regulatory certainty.”