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BY CNA team - November 21, 2018

News 0

Bakkt pushes bitcoin futures launch to Jan 24

Bakkt CEO Loeffler says launch timeline needed to be adjusted as more work required to be ready for trading
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Bakkt is pushing the targeted launch date of the physically-delivered bitcoin futures to Jan 24 from Dec 12 as the digital asset subsidiary of Intercontinental Exchange works to straighten out the kinks in the new trading platform and warehouse solutions.

Bakkt CEO Kelly Loeffler confirmed the new targeted launch date in a blog post dated Nov 21.

She noted that the level of interest and work required to get all the pieces in place necessitated the target launch date to be pushed back to ensure that all participants will be ready to trade from the first day.

“As is often true with product launches, there are new processes, risks and mitigants to test and re-test, and in the case of crypto, a new asset class to which these resources are being applied. So, it makes sense to adjust our timeline as we work with the industry toward launch,” Loeffler adds.

Hinting at more offerings to come, she announced that insurance coverage for bitcoins in cold storage will be offered while insurance for the warm wallet within the Bakkt Warehouse architecture is in the process of being secured.





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