Bakkt, the bitcoin focused platform by Intercontinental Exchange (ICE) has finally announced the launch date of Bitcoin futures trading. It has also revealed the much-awaited details regarding BTC futures on the ICE platform.
Bitcoin futures testing will begin on July 22. It will be listed on the Intercontinental Exchange’s Futures US and cleared at the ICE Clear US. It had informed last month that it would start the testing in the month of July. Bakkt claims the BTC futures trading will solve many issues of the crypto markets, like regulatory uncertainties, untrusted price discovery mechanisms, manipulative and fraudulent trading, lack of standards for surveillance, etc. The company said in a blog post,
Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms.
Bakkt is a platform built to support digital assets. It offers varied services like securely storing digital assets, and crypto trading. The Bakkt ecosystem is based on secure technologies, focused on serving institutions, merchants, and consumers. It says that its mention is
to support the development of trusted infrastructure for securely transacting in the new market for digital assets.
Along with the launch date, Bakkt also revealed the details of its monthly contract and the updated contract specifications for daily contracts. Minimum price fluctuations for both contracts are $2.50 per bitcoin ($2.50 per contract), while block trades may be executed at $0.01 per bitcoin ($0.01 per contract).
Bakkt will launch Bitcoin futures on July 22, just two days after the 50th Anniversary of Apollo 11’s successful landing on the moon, and it is for a specific reason. ICE claims that Bakkt will be to Bitcoin industry, what Neil Armstrong was to America.