Bakkt has announced that the launch of its physically-settled Bitcoin futures will take place on Sept. 23. The ICE-backed company has already secured an approval from the United States Commodity Futures Trading Commission (CFTC) and other relevant regulators.
To top that off, the exchange will also introduce its own custodian solution called Bakkt Warehouse, which adheres to the highest standards of oversight.’ This will provide institutional investors with top-notch security.
The Bitcoin price instantly went up by almost four percent on the much-anticipated news, delivering a major blow to the bears. According to CoinMarketCap data, the top cryptocurrency is currently trading at $10,359 after enduring a severe sell-off over the past few days.
The Bitcoin community feels very enthusiastic about Bakkt since, as Anthony Pompliano puts it, it is an important piece of crypto infrastructure.
Meanwhile, crypto trader Josh Rager couldn’t resist the temptation to remind his followers that the bear market is over.