Can the imminent departure of Bakkt futures boost the price of Bitcoin?
Bakkt sets final date for the launch of its futures contracts on Bitcoins in physical.
The race for the launch of the first futures contracts on Bitcoins in physics continues, and in CriptoTendencia they continue with the coverage of all the news that arise from the attempts of the US financial companies, LedgerX, Bakkt and ErisX, for being the first in Bring this product to market.
Already on July 31 they commented that one of the three competing companies, LedgerX, had announced that it would be the first to launch these contracts, after having received authorization from the Commodity Futures Trading Commission (CFTC), only to be denied little later by the CFTC itself, which stated that it did not grant any authorization to LedgerX for the launch of its product.
Therefore, the company that is emerging as a sure winner of this race is Bakkt, a company that has been preparing the launch of its own futures contracts on Bitcoins in physics for months, performing the first tests with them in the month of July , when they had all the necessary permits from the CFTC.
These types of contracts have advantages over the BTC derivative instruments currently on the market, as they not only allow liquidation and investment in it with fiat money, but also open the door to the use of Bitcoins to acquire the contracts and receive the earnings once the instrument expires.
In addition, although these types of instruments are normally more expensive than other derivatives, when performing transactions digitally without a bank intermediary, it is expected to lower costs for investors interested in acquiring them.
Now that Bakkt has set a definitive date for the launch of its product, on September 23 of this year, it is then worth asking: What consequences will this launch bring to the Bitcoins market?
And it is that Bakkt aims to solve one of the main problems that prevent the adoption of cryptocurrencies by traditional investors, that is to say the non-existence of a physical financial instrument and regulated by the US authorities.
This would open the doors to a number of capitals that have so far been kept away from the cryptoactive market, especially institutional funds, thanks to the legitimacy that the New York Stock Exchange would be providing to cryptocurrencies.
And this legal certainty for Bitcoin users is what makes this release the Data of the Day. The legitimacy that this event gives to cryptocurrencies, when even many traditional investors doubt whether they should enter this market, it is a great event that It will certainly expand the possibilities of use, as well as the demand for Bitcoins, in the very short term.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin