Bakkt Postpones Launch to 24 January 2019

Bakkt Postpones Launch to 24 January 2019

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

Given the volume of interest in Bakkt and work required to get all of the pieces in place, we will now be targeting January 24, 2019 for our launch to ensure that our participants are ready to trade on Day 1

Kelly Loeffler

Bakkt CEO, Kelly Loeffler, brings the update and other FAQs through a Medium post. She cites that in the case of crypto, there are new processes and risk mitigants to re-assess.

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.

Why Bitcoin?

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.

Bitcoin

BTC
Price
5,268 USD -3.09%
Volume, 24h
3,546,805,707 USD
58.56%
Marketcap
93,069,638,839 USD
55%
Emission
84%

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