Breaking news: ICE to launch physically settled Bitcoin Futures

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Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), has announced that will list a physically-settled bitcoin futures contracts and form a new company Bakkt, whose mission is to make bitcoin a mainstream financial asset. 

Bakkt has been developed in partnership with a variety of big name companies like Microsoft, Starbucks and BCG. Bakkt will integrate with the ICE’s U.S. futures market and clearinghouse to list a physically-settled one-day bitcoin futures-product, complete with physical warehousing managed in-house by ICE. This product will launch in November, pending regulatory approval.

“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security and utility. We are collaborating to build an open platform that helps unlock the transformative potential of digital assets across global markets and commerce”, said Kelly Loeffler, CEO of Bakkt.

“In bringing regulated, connected infrastructure together with institutional and consumer applications for digital assets, we aim to build confidence in the asset class on a global scale, consistent with our track record of bringing transparency and trust to previously unregulated markets,” said Jeffrey C. Sprecher, founder, chairman, and CEO of Intercontinental Exchange.

These are big news for Bitcoin believers, because we could be seeing a more mainstream version of BTC in the very near future. A BTC with which you can save up your retirement fund or even use for retail. This year couldn’t get more exciting!

Source:

https://goo.gl/mwCJRp

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Photo by Wikimedia Commons