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Bakkt futures suggested to launch in Q3

Bakkt, the platform created by the Intercontinental Exchange (ICE) have begun testing their eagerly anticipated Bitcoin Futures, and reports are now suggesting the soon to be unveiled launch date will be during Q3 2019. As it stands, a release date, tentatively scheduled for Q3 looks to be announced soon, however, the possibility of a delay for the physically backed futures cannot be ruled out just yet.

With New York being notoriously harsh when it comes to regulation of this manner, the exchange is awaiting approval from the financial services as the final hurdle before launch. The futures would eventually be operated under the Bakkt Warehouse umbrella, for which approval is required and would mean Bakkt coud operate as a limited-purpose trust firm.

Additional concerns had also been raised regarding the guarantee fund set up to cover open positions. Reports suggesting significant discrepancies between the $400m in open positions vs the $35m guarantee fund. These issues are looking to be resolved, and are in the process of being addressed with measures being undertaken to raise additonal funds.

Image licensed via Pexels

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