The US-based Bakkt announced it would launch two physically delivered Bitcoin futures contracts, one monthly and one daily, on September 23, 2019, after nearly a year of regulatory delays, according to Fintech Futures.
Prior to this announcement, the company received a New York state trust charter through the New York State Department of Financial Services (NYDFS), following approval from the Commodity Futures Trading Commission (CFTC) which allows it to begin user acceptance testing.
The contracts, which are protected by USD 125 million in insurance, were a result of demands to ICE from Wall Street clients who typically trade ICE’s commodity, currency and stock index contracts.
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