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Finally…Bakkt is set to launch today! And it could be great news for crypto investors

by , 23 September 2019
Finally…Bakkt is set to launch today!   And it could be great news for crypto investors
One year ago, the Intercontinental Exchange (ICE) - which owns the NYSE - revealed plans to launch a futures exchange and digital assets platform - called Bakkt.

Bakkt's goal?

To transform Bitcoin into a trusted global currency with broad usage. More importantly, make Bitcoin a more sound and secure offering for key players in the market who mostly shunned it…

I'm talking about the world's big financial institutions.

And to achieve this, ICE partnered with heavyweights like Microsoft, Boston Consulting Group, and Starbucks to name a few.

Initially, Bakkt was supposed to launch in November 2018, but it suffered numerous setbacks due to regulation and higher-than-expected interest.

Fast-forward one year later and the long-awaited launch is finally here!

What does this mean for cryptos investors?
         
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Bitcoin futures market is open to the BIG investors
 
Bakkt, which began allowing clients to deposit bitcoin into its warehouse at the beginning of this month, will launch its so-called physical bitcoin futures contracts today.
 
Last week, Forbes reported that, “analysts and traders are expecting these physical bitcoin futures, which are contracts that pay out in the underlying cryptocurrency rather than in cash, to allow for unprecedented bitcoin and cryptocurrency growth.”
 
In short, this platform could see massive amounts of money making its way into bitcoin.
 
And not just from any investors, but from the multi-millionaire and billionaire institutional investors. 
 
While this is a huge move for bitcoin, there’s another reason why Bakkt could be a game-changer.
 
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It also aims to solve the issues regarding a Bitcoin ETF
  
So far, the Security Exchange Commission (SEC) has rejected around 10 Bitcoin ETFs and they highlighted the two main reasons why:
 
1. Lack of trusted price formation.
2. Reliance on futures markets and derivatives.
 
However, Bakkt’s new venture won’t allow Bitcoin to be traded on margin or leverage.
 
Bakkt said, “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.”
 
In fact, the Bakkt exchange satisfies both requirements from the SEC. Now, if Bakkt continues to focus on finding a trusted price formation, it’s possible that it could positively impact the approval of the first bitcoin ETF.
 
If anything is going to kick-start crypto markets, it will be the launch of this service and its physically backed bitcoin futures.
 
And I’m not the only who thinks so…
 
Ahead of this launch, a closely-watched bitcoin price indicator has turned bullish and appears to be echoing moves seen in 2015 ahead of bitcoin's massive 2017 bull run, data from bitcoin and crypto exchange according to cryptocurrency trade site Coindesk.
 
To sum up, this is a great time to be invested in cryptos.
    
See you next week.
Joshua Benton,
Managing Editor, The South African Investor 
 
P.S. Investors haven’t only backed bitcoin to soar thanks to the launching of Bakkt, they also predict cryptos like this one could make even bigger gains. Continue reading here…


Finally…Bakkt is set to launch today! And it could be great news for crypto investors
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