Bitcoin Climbs as Intercontinental Exchange Debuts Future Contracts
Bitcoin prices climbed in Asia as Bakkt’s much anticipated Bitcoin futures trading has officially launched on the Intercontinental Exchange (ICE).
Bakkt, the Bitcoin futures and digital assets platform, is offering a daily contract as well as a 30-day future which will be products of ICE, operator of the New York Stock Exchange.
“This contract is squarely designed for institutional participants,” said Adam White, Chief Operating Officer of Bakkt. “The combination of regulated trading with custody is what sets the ICE approach apart.” he said.
News of the Bakkt’s launch was first reported over a year ago. According to reports, the platform experienced multiple delays amid regulatory concerns from global regulators.
Bakkt announced in August that approval was finally secured from the U.S. Commodity Futures Trading Commission.