Bakkt, the ICE-operated platform, updated its launch schedule from 12 December 2018 to 24 January 2019 to make certain that participants can trade on the first day of launch
The contract on trading and warehousing will begin on 24 January 2019, which is still subjected to regulatory authorization. Bakkt will continue to inform the community on its progress.
Bakkt and Insurance Status for BTC
Aside for the rescheduling of the launch, Loeffler shares that the platform has insurance for BTC in cold storage. On the insurance of warm wallet within Bakkt Warehouse, the platform is said to be ‘in the process’ of securing it.
According to Bakkt, BTC is a widely distributed digital asset and is considered as the most liquid. It is regarded as a commodity and it accounts for more than half of the overall cryptocurrency market capitalization. BTC derivatives are regulated by the US Commodity Futures Trading Commission (CFTC).
Bakkt and the CFTC
The CFTC is performing an exhaustive review throughout the Bakkt platform such as the Bakkt Warehouse and the Bakkt Bitcoin Daily Futures Contract. Bakkt’s regulated offering is said to make the markets for digital asset more accessible and useful.