At CFTC, Coinbase’s Dorothy D. DeWitt will be responsible for the supervision of derivatives platforms, including bitcoin futures, swap data repositories, as well as for the evaluation of the new platform-traded products.
A couple of days ago, the price of Bitcoin failed to go past the $10,500 and now is heading for $10,000. Mining difficulty is rising, Bakkt is soon set to launch and huge amounts of Bitcoin is being moved around. Which way is Bitcoin heading?
In recent news, Seed SX’s subsidiary Zero Hash announced that it will support derivatives transactions, thus opening the gates for institutions to clear derivatives on its platform.
Binance recently launched its futures trading platform which is on an invitation-only basis. The soft launch has already raised about $150 million in less than twenty-four hours. This may mean good things for the cryptocurrency exchange.
Bakkt’s COO, according to a recently released statement, believes that the company will be a game-changer for the crypto market in general with Bitcoin Daily & Monthly Futures will be launched on September 23, 2019.
Bakkt seems to be finally approaching its ambitious goal of creating a marketplace for physically-settled Bitcoin futures, as now the company announces its Warehouse is active for futures contracts.
Bakkt announced that it is opening a Warehouse. Its potential clients are those customers willing to deposit Bitcoin as well as withdraw it. It seems that the company is preparing for the introduction of its futures.
A $1 billion Bitcoin (BTC) transaction became conspicuous because its sender spent far too much on fees. Some are guessing at the origin and destination of the funds with some believing it’s tied with Bakkt.
After a massive demand for its Bitcoin Futures Contract this year, the CME Group is planning to introduce Bitcoin options contracts as per the internal source.
Institutions like VanEck and ICE’s Bakkt are flexing their muscles for luring institutional investors in the crypto market and trigger the next Bitcoin price rally.