With great anticipation of the Bitcoin-Future-Kontrakthandel0 is launched on the stock exchange Bakkt. The Exchange is operated by the Intercontinental Exchange (ICE) and has announced its first Block Trade with Bakkt Bitcoin Futures.
The initially weak Start, the Bitcoin Futures, followed by a larger trading volume and was conducted on Tuesday between the crypto-trade Bank, Galaxy Digital and crypto-Finance company XBTO Group and from the global financial broker, ED&F Man monitored.
XBTO that the Block-Trade of Bitcoin-Futures is successfully expired (freely translated):
Last week, we bought the first Bakkt Bitcoin Daily Futures contract and the first physical delivery of a digital asset according to the existing commodity laws and regulations. This week we have carried out the first Block Trade. We are pleased to inform you that the launch was successful and great Trades can be carried out from now on.
The ICE has started last week under the high expectations after a late Start to its Bitcoin trading platform Bakkt.
The first $BTC futures exchange @Bakkt launches today-backed by @NYSE parent to ICE, $MSFT & others – what does it mean for cryptocurrency pricing now and in the future? @Bakkt COO @WhiteAdamL joins @first move to tell all pic.twitter.com/eTUboaAd3b
— Julia Chatterley (@jchatterleyCNN) 23. September 2019
Bakkt in a press release that the first block trade, marked a further milestone, which enables large investors of Bitcoin to trade in a safe and established environment Bitcoin. Through the integration of traditional institutional actors, it is expected that Bakkt begins a new Chapter in the development of Bitcoin and the crypto market in the direction of full Integration in the financial system as a safe haven.
Despite the slow start of Bakkt insiders explain that the new platform needs time to Grow and not as a Flop, clocked in and should be. Galaxy Digital notes that the Asset class continues to grow (freely translated):
As the Digital Asset class Matures further, we will consider the introduction of Bakkt as a fundamental Element of the market infrastructure.
Analysts of the New York investment Bank Oppenheimer Holdings, wrote in a on 1. October published Equity Research report on the following (freely translated):
Bakkt, a joint venture between ICE, Microsoft, BCG, and Starbucks, has on 22. September 2019 finally released its Bitcoin Futures trading.
Although the early trade pointed out that the volumes for Bitcoin Futures on ICE had a slower Start than the CME and CBOE, it is only a tiny fraction of the total volume and the income from ICE. There ICE many other electronification initiatives in the areas of Fixed Income Analytics and Trading, mortgage and Fixed Income-has ETFs, we do not recommend investors to fret about the current volume of trade.
In addition, Oppenheimer adds that long is impossible to assess how successful the BTC will be Futures. The market needs to Mature Zeitum (freely translated):
At this point, we will not assess whether the Bitcoin Futures of Bakkt will be successful or not, or whether or not the trade will increase the volume of Bitcoin Futures of Bakkt in the future.
We recognize that there is a massive acceptance of Bitcoin or other digital Assets outside of crypto-enthusiasts is still a long way ahead, but also to overlook the fact that the Bakkt introduced in the initial volume of trading of Bitcoin Futures seemed not to conform to the original expectation.
While Trabue Bland, President of ICE Futures U.S., says that Bakkt has a growing base of participants and clearing firms that are not Bitcoin bulls believe that the crypto-markets Bakkt or other large institutional players need to reach the acceptance of the main streams, and a thriving market.
In an appearance on CNBC the crypto-Venture-capital investor Lou Kerner of the crypto Oracle, the Bitcoin Futures pointed no great importance to (freely translated):
I have always thought that Bitcoin institutions. Actually, it is the opposite of institutions… So we don’t need institutions to come to this Party, so Bitcoin breaks out again.
Featured Image: Shutterstock | Wit Olszweski