💡 Cryptocurrency News: New Bitcoin Futures are coming in November by Bakkt!

in #cryptocurrency5 years ago (edited)

According to official announcements by Bakkt on Twitter and Medium, there are new Bitcoin Futures upcoming in November this year.

Bakkt Bitcoin Futures

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Is this a sign for a new bull run on cryptocurrencies for the end of this year?



Bakkt Twitter

This could really be a realistic signal for the next bull run, because last year such news pushed the cryptocurrency prices a lot too.

Last year CBOE started the first trading with Bitcoin Futures in December 10. and this caused to a Bitcoin price jump to from around 11,500 $ (4.12.2017) to around 16,800 $ (5.12.2017). A few days later the competitor CME also launched their Bitcoin Futures and the Bitcoin price was pushed to over 20,000 $.

A special thing about the new upcoming Futures by Bakkt will be that they are physically delivered and are taking place in a regulated environment to reduce the inhibitions for institutional investors.

Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.

Bakkt Bitcoin Futures

Here is also an excerpt of the official post on medium about the new Futures:

A critical element to price discovery is physical delivery. Specifically, with our solution, the buying and selling of Bitcoin is fully collateralized or pre-funded. As such, our new daily Bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset. This supports market integrity and differentiates our effort from existing futures and crypto exchanges which allow for margin, leverage and cash settlement. Coupled with a secure, regulated warehouse solution, you can begin to see how this market infrastructure can help more institutions and consumers participate in the asset class.

Source: https://medium.com/bakkt-blog/https-medium-com-kellyloeffler-price-discovery-f9c77885383

In the moment the news about the upcoming Bitcoin Futures haven't influenced the Bitcoin price, but this could go very fast, especially when the new Futures by Bakkt are launched and maybe other competitors will follow with new Futures trading offers too.

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Greetings from Germany and hear you everyone!

Jonas - @future24

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Good news! I just hope people aren't expecting some big rally on the back (no pun intended) of Bakk opening. It will still take time, it is a small step in in a much larger process.

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