The planned launch of Bakkt bitcoin futures postponed to January 29, 2019 by New York Stock Exchange’s (NYSE) operator, Intercontinental Exchange (ICE).
Initially, the launch was scheduled to take place on December 12. The product will be USD-only daily bitcoin futures with physical delivery of the asset.
The reason for the delay is explained by ICE as follows: “The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”
The CEO of Bakkt, Kelly Loeffler wrote more about the new timeframe on Medium.
She points out that the required work to get everything right in this very specific and market changing product needs more time, therefore they are targeting January 24, 2019.
She also mentions that in the upcoming weeks they will announce new features related with this product, but notes the that they have insurance for bitcoin in cold storage and are in the process of securing insurance for a warm wallet within the Bakkt Warehouse architecture.
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