The owner of the New York Stock Exchange ICE plans to launch its own crypto-exchange, called Bakkt, next month. The goal of the platform is to offer institutional investors various tools, including Bitcoin futures contracts.
For many crypto enthusiasts, Bakkt is a long-awaited project. However, Wall Street investors have already found other different ways to enter the crypt market.
According to the main trader of Cumberland, a subsidiary of DRW, Bobby Cho (Bobby Cho), institutional investors began to devote more time to trade. At the same time, he emphasizes that almost a third of all DRW transactions are performed during the Asian session.
Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying a one bitcoin into the customer's account.
– Bakkt (@ Bakt) September 25, 2018
Experts say that it is volatility that negatively affects the mood of traders. As soon as some stabilization or cryptocurrency begins to move in a limited range on the market, there is again an increased interest in trading.
Bakkt Platform is a joint project of Microsoft, Boston Consulting Group and Starbucks. The ambitious plans of the organizers go far beyond the traditional vision of cryptobirds . In addition to the main features, it is planned to launch Bitcoin funds, etc.
It is assumed that Bakkt will also create applications through which ordinary users can pay for goods and services with BTC, bypassing credit and debit cards. The organizers do not announce the exact launch date, while reporting that the event will take place in November.
