Bakkt and their physically backed Futures Contracts may launch as soon as the next few weeks.
In an unconfirmed report out of cointelegraph, an anonymous source said that regulators could make a decision on Bakkt futures as soon as next week.
The quote mentioned in cointelegraph can be seen here:
"Should regulators give the project the green light, ICE’s Bakkt will begin launching its Bitcoin (USD) Daily Futures Contract for clients as soon as the first week of next month, according to an unnamed source with direct knowledge of the situation."
It is widely believed that Bakkt will receive the green light, but most were not expecting the actual green light to come until somewhere in mid to late December.
The latest rumor would speed up that timeline quite dramatically.
Is there any truth to this?
That is the million dollar question.
Any time someone cites an unconfirmed anonymous source, everything thereafter needs to be taken with a giant grain of salt.
Especially in crypto land.
That being said, it does sound like Bakkt and their bitcoin futures products are coming in the very near term.
Either way, these products are coming.
Whether that happens in the next 2 weeks or the next 2 months doesn't really matter to me, the bottom line is, they are coming.
If there really is pent up institutional demand for bitcoin, the price of bitcoin is likely going higher when these products launch.
Also, if last year is any indication, bitcoin ran up substantially leading up to the launch and just so happened to peak on the exact day that bitcoin futures products were launched.
If history were to repeat this year, we would expect to see a substantial rally in the coming weeks. Except this time it likely wouldn't peak when they launch because these futures products are actually linked to bitcoin.
Stay informed my friends.
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