Bitcoin Daily Futures contract is reportedly getting a green signal from the authorities which have been a much-awaited Bitcoin Futures that is being launched by New York Stock Exchange [NYSE]’s sister company Bakkt, as per Wall Street Journal.
The Bitcoin Futures contract launched Intercontinental Exchange [ICE] is basically for the institutional players that haven’t been able to get into the cryptocurrency-frenzy. Now that Bakkt is getting approval from the authorities the futures contract will see a massive adoption from institutions due to Bitcoin’s inherent demand. Bakkt has been rigorously working with Commodity Futures Trading Commission [CFTC] to get the much-needed green-signal. The contract was scheduled to be launched on December 12, but it was postponed to late January 2019. ICE announced the rescheduling on November 20, 2018 stating:“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”
Bitcoin (BTC) is down 2.85% over the past 24 hours and is currently trading at $3,942.98 on Coinbase. BTC dominance is at 53.2% and the total cryptocurrency market cap is currently at $129 Billion.
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