Bakkt commences user testing globally of Bitcoin (BTC) futures

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  • The platform for Bitcoin futures, Bakkt, has commenced user testing.
  • There were initial delays due to regulators investing the platform, such as the CFTC.

 

Bakkt, Bitcoin (BTC) futures platform from the Intercontinental Exchange (ICE), has commenced the testing stage for the delivery of BTC futures, as reported via an official tweet.

It was detailed that user acceptance testing for Bitcoin daily and monthly futures has now begun, with participants globally. The platform initially announced the launch of futures testing in June.

Bakkt will be initiating acceptance of user testing for its Bitcoin futures listed and traded at ICE Futures U.S. and cleared via ICE Clear US.”

The Bakkt Bitcoin futures are physically delivered via a process known as “warehousing,” which will purportedly bode well from a price discovery standpoint, however is subjected to some concern among regulators. Regulators such as CFTC investigating the platform’s compliance procedures and its possible effect on markets, did causes some delays.

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