Bakkt Says That Crypto Custody Launch Is Around The Corner
In a really volatile crypto market and an evolving crypto space, Bakkt has been said to be the crypto game-changer that the world is expecting.
Not too long ago, the market research and analysis company Fundstrat has released an update on Bakkt.
Bakkt is expected to launch with tons of institutional investors on board.
According to Fundstrat’s notes, “Investors at the event are excited about the Bakkt launch, and the notion of physically-settled daily and monthly futures contracts. There was a wide array of clients, mainly with deep traditional equity/derivatives expertise.”
Bakkt begins storing BTC next week
Bakkt will soon begin to store customer Bitcoin on September 6th in order to get ready for the upcoming crypto futures marketplace. They revealed the custody launch on Twitter this week.
“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,” according to official notes.
“These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody.”
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
— Bakkt (@Bakkt) August 28, 2019
Positive feedback from the crypto community
The feedback received by Bakkt was obviously positive.
Someone tweeted: “Remember, the hype is Bakkt with substance. Unlike other futures exchanges, this is settled in bitcoin. Actual bitcoin is paid out, not just the fiat equivalent to the price of bitcoin. The result is better price discovery and liquidity for bitcoin and everyone in the space.”
Another person said: “The @Bakkt news is arguably the most bullish event for institutional investors in the history of #bitcoin. PHYSICALLY delivered futures (require the holder to either produce actual bitcoin or take delivery from the exchange) backed by the New York Stock Exchange. We are maturing.”
Kelly Loeffler, the company’s CEO said the following:
“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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