Bakkt to begin testing new contracts

Bitcoin futures platform Bakkt is scheduled to begin testing its new contracts Monday.

Nearly a year since revealing its vision, Intercontinental Exchange (ICE) is still waiting on regulatory approvals to take the platform live.

Bakkt announced in May that it would begin testing its bitcoin futures contracts in July. It would be testing two types of contracts a daily and a monthly contract. Bakkt aims to list the futures which would be traded through ICE Futures U.S. and cleared through ICE Clear U.S., the parent company’s clearinghouse.

It is unclear what specifically will be involved in the testing process. Bakkt did not reply to multiple requests for comment.

Bakkt has experienced several delays regarding its launch as regulators like the United States Commodity Futures Trading Commission investigated the platform’s compliance procedures and its possible effect on markets.

Sam Doctor, the managing director and quant strategist at Fundstrat Global Advisors, predicted that full futures trading on Bakkt will launch this quarter. He said:

“There appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch, with the sales team gaining traction among brokers, market makers, prop trading desks and liquidity providers.”

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