Bakkt Platform will start in a test mode today and by the end of the third quarter, full launch is expected.
The most awaited Bakkt platform is expected to launch its deliverable Bitcoin futures in a test mode today on July 22, 2019. And they are planning to launch the platform for the commercial operation by the end of the third quarter this year.
Intercontinental Exchange is an American company that owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces is the company behind this Bakkt platform. They have postponed the launch of the platform many times, but the thing to be noticed here is that the investors interest is getting more stronger and the same opinion is expressed by Fundstrat Global Advisors's strategist Sam Doctor in his recent tweet :
"We think Bakkt could be a huge catalyst for institutional participation in the crypto market. Here are our takeaways from the Bakkt institutional summit yesterday at the NYSE,"
He also believes that there are lots of institutional investors, who are ready to start trading digital assets once Bakkt platform is launched. Bakkt is also supposed to offer the first cryptocurrency instrument regulated in the US.
Bakkt's COO Adam White also commented that the deliverable bitcoin futures will set up a new market standard. He also said that the test launch would start two days after the 50th anniversary of Apollo 11 mission. Apollo 11 was the spaceflight that first landed humans on the Moon. Commander Neil Armstrong and lunar module pilot Buzz Aldrin formed the American crew that landed the Apollo Lunar Module Eagle on July 20, 1969, at 20:17 UTC. He also said,
"That's our mission — to support the development of trusted infrastructure for securely transacting in the new market for digital assets. In advance of the start of Bakkt's testing regimen, we wanted to share what we see as some of the benefits we're bringing to help grow this market,"
According to the Bakkt platform developers, Bakkt will offer two futures contracts with daily and monthly settlements. The risk management and the collateral mechanism will act in accordance with the standards of the traditional derivatives market.
Disclaimer & Suggestion : This analysis is only for education purpose. Cryptocurrency market is very risk and volatile. Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.