Intercontinental Exchange (ICE), the governing body behind the New York Stock Exchange, has executed the first block trade of Bakkt Bitcoin (BTC) futures contracts. ICE revealed the development in an Oct. 4 press release, specifying that the first Bakkt Bitcoin Futures block trade was executed between digital assets merchant bank Galaxy Digital and crypto investment firm XBTO on Oct. 1. The deal was cleared by agricultural commodities merchant ED&F Man. Following the block trade execution, XBTO stated: “Last week, we bought the first Bakkt Bitcoin Daily Futures contract and took the first physical delivery of a digital asset under existing …

The Chicago Mercantile Exchange (CME) Group has no current plans to launch physically settled Bitcoin (BTC) contracts, a senior executive has said. Tim McCourt, its global head of equity index and alternative investment products, told MarketsMedia on Oct. 1 that all new contracts or products are driven by customer demand. CME’s new options will be settled in BTC futures CME has been trading BTC futures since December 2017 and recently revealed plans to launch options in the first quarter of 2020, pending regulatory review. Its current Bitcoin futures contracts are settled in cash. McCourt said that “the number one demand …

Major cryptocurrency exchange Binance’s newest research supports the theory that the launch of institutional trading platform Bakkt partly caused Bitcoin to drop 20%. In the latest edition of its markets overview, Binance Research, the exchange’s analytics arm, singled out Bakkt as the principal event which occurred just before Bitcoin’s price slip last week. Binance: Bakkt is a “contributing factor” in Bitcoin’s fall As Cointelegraph reported, Bakkt debuted its Bitcoin futures to much fanfare on Sept. 23. Three days later, BTC/USD plummeted from near $10,000 to under $8,000. Commentators were underwhelmed by the offering that saw negligible trading activity despite executives …

Just a decade ago, speculating on cryptocurrency prices meant figuring out a way to buy Bitcoin (BTC) and add it to your blockchain wallet. This was a feat that was worthy of bragging rights: In 2010, there were few exchanges, low liquidity and barely any infrastructure, meaning that crypto was less a financial instrument and more a digital novelty. Larger centralized exchanges unlocked the idea that Bitcoin and other cryptocurrencies have relative value and made it possible to speculate on their value versus fiat currency. Since then, a slow proliferation of a variety of crypto derivatives has transpired. This has …

Subsequent to the recovery of the Bitcoin price (BTC) movement from $7,700 to around $8,200 in the past 24 hours, technical analysts anticipate Bitcoin and other major crypto assets to recover in the short term. Speaking to Cointelegraph, crypto trader Nick Cote said that there are plenty of times when the price history was at $7,600, which is likely to hold as a level of strong support for traders in the upcoming days. Technical analysts remain divided on the Bitcoin price trend and the rest of the crypto market, but most generally agree that there is strong demand to buy …

After more than a year spent ensuring full compliance with the United States authorities, Bakkt, the first federally regulated platform for Bitcoin (BTC) futures trading, launched on September 23. Conceived by the global trading giant Intercontinental Exchange (ICE) and counting a solid portfolio of investors from Microsoft’s venture fund M12 to Starbucks as its backers, Bakkt offers institutional traders something brand new. The platform’s value proposition is physically-settled BTC futures contracts, combined with a sound custodial service approved by the Commodity Futures Trading Commission (CFTC). Assuming that it is digital assets’ volatility and lack of regulatory safeguards that deters otherwise …

The COO of institutional trading platform Bakkt appears unsure about its futures market predicting the impact of the 2020 Bitcoin halving event. White: We want to “lead price discovery” Speaking to CNN in an interview on Sept. 23, Adam White said that Bakkt’s newly-launched futures contracts should help the market value Bitcoin (BTC). “We hope the Bakkt daily and monthly futures contracts lead price discovery,” he told the network. Bakkt debuted its Bitcoin futures this weekend, trading 71 contracts on its first day. While its release was keenly awaited, the company is looking forward to increasing on-ramps for new investors …

Intercontinental Exchange’s (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launch on Sept. 22. According to ICE historical data on Bakkt’s Bitcoin/USD futures contract trading, the platform has traded 71 BTC at press time, with the last recorded trading price settling at $9,875 per Bitcoin. Bakkt Bitcoin (USD) monthly futures contract. Source: ICE In an analysis for Cointelegraph earlier today, Rakesh Upadhyay wrote that the lukewarm reception to the Bakkt launch is likely due to the fact that the currency’s price has been range-bound recently, so institutional traders are in no …

Following the launch of Bakkt’s Bitcoin (BTC) futures, the company listed three reasons why the event is an important milestone for the industry. In a statement on Sept. 23, Bakkt CEO Kelly Loeffler emphasized that the successful launch of Bakkt Bitcoin Futures contracts is the first time when United States-regulated, physically settled Bitcoin futures became available. Loeffler pointed out that the sole fact that such a product now exists may matter more than the precise details of the initiative. Loeffler: Regulated markets accelerate the adoption of digital assets Stressing that the launch of the service is an important step to …

18 Bitcoin (BTC) in volume has been traded since the launch of Bitcoin futures on the Intercontinental Exchange (ICE)’s Bakkt platform yesterday, Sept. 22. The much-anticipated contracts — the first of their kind to be physically settled in Bitcoin — went live at 8 PM EST on Sept. 22 (00:00 UTC Sept. 23). The first hours Bakkt ™ Bitcoin (USD) Monthly Futures Contract. Source: ICE As of the most recently available data at the time of writing, 18 BTC has been traded, with a last recorded trading price of $10, 042.50/BTC. Many crypto commentators have commented on the apparently slight …

Bakkt’s physically settled Bitcoin (BTC) futures trading is now live for trading on the Intercontinental Exchange (ICE). New option for traders As of 8 PM EST on Sept. 22 (00:00 UTC Sept. 23), Bakkt’s much-anticipated BTC futures trading has launched. The platform is the first of its kind to receive approval from United States regulators and is a product of ICE, the operator of the New York Stock Exchange. While news of Bakkt’s launch and intention to facilitate BTC futures trading broke over a year ago, the platform itself has seen numerous delays owing to regulatory concerns. On Aug. 16 …

Bitcoin (BTC) and cryptocurrency will gain trust from the incoming launch of institutional trading platform Bakkt, a well-known analyst has said. More praise for Bakkt In a tweet on Sept. 19, Fundstrat Global Advisors co-founder Tom Lee joined the increasing number of Bitcoin figures bullish about Bakkt’s impact on the space. The platform goes live on Sept. 23, and will first offer physical Bitcoin futures. Investors, who have been able to deposit funds since Sept. 6, will take delivery of payouts exclusively in BTC. The remaining days to launch have so far been characterized by lackluster progress for Bitcoin markets, …