According to the CEO of ICE, Bakkt’s parent company, the launch of the firm’s physically settled Bitcoin futures, is on the horizon. The CEO has said that they are waiting for NYFDS approval.
Weaker USD may be good news for Bitcoin price which could pick up more because of the quarter-percent rate cut. The move has been seen as preventative by economists but could also be a catalyst for the next financial crisis.
Bitcoin had been in an uptrend for most of the day, and yesterday it managed to successfully pierce the $10,000 mark, which is generally considered to be a level of crucial psychological, if not technical, resistance.
Bitcoin derivatives provider LedgerX announced it has launched the first physically-settled bitcoin futures contracts in the U.S. The contracts, which pay traders out in Bitcoin, will be available to both institutional and retail investors.
Bakkt Digital Asset Summit highlighted important developments in the launch of Bakkt Bitcoin Futures, which beta release is expected today. CFTC commissioner Dawn Stamp acknowledged the high demand for the derivative product.
From around 14:00 UTC on July 10, Bitcoin fell $962 from its previous price in a little over an hour, landing just above the $12,000 psychological support before another wave of sellers dragged it to a peak low of $11,445.
CFTC granted TD Ameritrade-backed ErisX a derivatives clearing organization (DCO) license under the Commodity Exchange Act (CEA) allowing the Eris Exchange to offer physically delivered digital asset futures contracts.
The Commodity Futures Trading Commission (CFTC) cleared Bitcoin derivatives provider LedgerX to offer physically settled BTC futures contracts to institutional and retail customers.
When approved, LedgerX will offer Bitcoin, Bitcoin options and Bitcoin futures to retail customers through its new platform Omni.