Starting September 6, Bakkt customers can deposit money on the Bakkt warehouse for physical futures delivered by Bitcoin (BTC).
Bakkt opens its markets on September 23rd
August 28 ad The eagerly awaited crypto-trading platform Bakkt on Twitter announces that its Bakkt Warehouse repository platform will accept Bitcoin deposit by its customers from the beginning of September.
These deposits are expected to be several weeks ahead of the September 23 launch of the US Daily and Monthly Futures Platform. The platform will enable the physical delivery of Bitcoin with fully regulated and secure markets.
The Bakkt Warehouse, part of the Bakkt Trust Company, was developed with the same physical and cybernetic security measures as the New York Stock Exchange. The New York Stock Exchange is also operated by Intercommunal Interchange Bakkt.
The physically delivered futures contracts of Bakkt have been received very positively by the cryptographic community. However, the launch of the platform took several delays due to compliance issues.
Bitcoins physically delivered
A physically delivered Bitcoin futures contract is a contract in which the customer receives the actual cryptographic currency instead of a cash payment at the end of the contract.
The fact that Bitcoin futures are physically settled on Bakkt means that the party will receive bitcoins from Bakkt Warehouse after the contract expires. In contrast, Chicago Mercantile Exchange and Chicago Board Options futures are cash-settled and are based on the Bitcoin exchange rate for cryptocurrency trading.
Cointelegraph has already announced that the future CME Bitcoin reached a new high. In May 2019, the average daily trading volume was $ 515 million.