Hey ninjas, how’s the trading going? Bakkt’s new physically settled Bitcoin futures exchange is officially live and in the first 8 hours of going live, 18 bitcoins have been traded even with Bitcoins price declining. Bitcoin is trading at $9,920 at press time.
On the 22nd of September, at 8 PM EST Bakkt’s BTC futures trading platform went live, As Altcoin Ninjas formerly reported this platform is the first to receive approval from United States regulators.
News of Bakkt’s intention to launch its Bitcoin futures trading platform was made public last year the project experienced a number of delays due to regulatory concerns.
On August 16th the firm officially announced it had secured the approval of the United States Commodity Futures Trading Commission (CTFC), also announcing the day of its launch.
Though there are a number of platforms that offer trading of Bitcoin futures, like the Chicago Mercantile Exchange, all transactions are cash-settled.
Bakkt’s new Bitcoin trading platform contract enables its users to be paid in Bitcoin rather than its equivalent value in Fiat currency/cash.
The new platform reportedly offers its users daily and monthly trades which are all processed through Bakkt’s Bitcoin warehouse.
Bakkt’s Bitcoin warehouse reportedly began processing withdrawals and deposits at the beginning of September and later announced that they had secured a $125 million insurance on for the warehouse.Don’t always forget to holla at Ninja Discord anytime to talk about cryptocurrency. You can as well check out our exclusive Ninja coin giveaways and Trading View analysis.