Bakkt Revealed The First Block Trade Of The Bitcoin Futures
Bakkt has been said to be the crypto game-changer that the world is expecting.
The New York-based exchange is expected to spark a wave of institutional investment in BTC as the regulated company leverages its massive Wall Street ties and allows institutional money to buy, sell, store and spend crypto.
The ICE reveals the first block trade of Bakkt BTC Futures
The ICE has revealed the first block trade of Bakkt Bitcoin Futures.
The latest reports from the Daily Hodl revealed that the high-volume privately negotiated trade was executed not too long ago between the crypto bank Galaxy Digital and crypto finance company XBTO Group and it’s been cleared by the global financial brokerage company ED&F Man.
The first $BTC futures exchange @Bakkt launches today backed by @NYSE parent ICE, $MSFT & others – what does it mean for cryptocurrency pricing now and in the future? @Bakkt COO @WhiteAdamL joins @firstmove to tell all pic.twitter.com/eTUboaAd3b
— Julia Chatterley (@jchatterleyCNN) September 23, 2019
XBTO revealed the following: “Last week, we bought the first Bakkt Bitcoin Daily Futures contract and took the first physical delivery of a digital asset under existing commodity futures laws and regulations. This week, we executed the first block trade. We’re pleased to report that the launch was successful and can accommodate large trades.”
ICE Launched the Bitcoin trading platform Bakkt just recently amidst high expectations after the event has been delayed more than once.
According to the team at Galaxy Digital, “As the digital asset class continues to mature, we view the launch of Bakkt as a foundational piece of market infrastructure.”
Analysts at New York-based investment bank Oppenheimer Holdings detailed in an equity research report which was released on October 1st the following:
“Bakkt, a venture jointly owned by ICE, Microsoft, BCG, and Starbucks, finally launched its bitcoin futures for trading on September 22, 2019.”
Head over to the official report in order to learn more.
Crypto enthusiasts are expecting Bakkt to make positive changes to the crypto space. The crypto market is in a time of correction these days.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.