Copy link
Increase text size
Decrease text size
Link copied

Bakkt’s bitcoin futures go live on ICE Futures U.S.

Mon, 23 Sep 2019, 06:26 am UTC

Bakkt, a subsidiary of the Intercontinental Exchange (ICE), has announced the launch of its much-awaited bitcoin futures contracts on ICE Futures U.S.

In a tweet, Bakkt said that the first Bakkt Bitcoin Futures trade was executed at 8:02 pm ET at a price of $10,115.


Bakkt’s bitcoin daily and monthly futures are now live on IFUS. They are physically settled, meaning that customers would receive actual bitcoin once the contract expires. In contrast, CME Group offers cash-settled futures contracts.

Bakkt Warehouse, which is operated by a limited purpose trust company regulated by the New York State Department of Financial Services (NYSDFS), allows for the safe, secure storage of bitcoin. It started accepting customer deposits and withdrawals on September 06.

According to the official website, Bakkt Warehouse is comprised of both hot (online) and cold (offline) digital asset storage. Ahead of the launch, Bakkt had revealed that the bitcoin deposited at its regulated custodian, Bakkt Warehouse, is protected by a $125 million insurance policy.

“This coverage will be reevaluated from time to time based on risks and updates to operational best practices. In addition, Bakkt is working with one of the largest custody banks in the world, BNY Mellon, as part of its safekeeping process,” Bakkt said.

Just recently, ICE announced tentative margin requirements for Bakkt Bitcoin Monthly and Daily futures trading contracts. According to a notice dated September 09, the initial hedge requirement for daily and monthly futures contracts is $3,900, while the speculative initial requirement for both contracts is $4,290.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $6,826.14 (+9.49%)
  • Ethereum (ETH) $141.98 (+8.93%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $234.98 (+9.59%)
  • Bitcoin SV (BSV) $176.93 (+10.15%)
  • Bitcoin (BTC) $6,826.14 (+9.49%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft