Edit: Bakkt announced on May 14, 2019, that thay will launch Bitcoin futures by July.
Bakkt seems to be the next big thing in Bitcoin or at least the biggest event of 2018. People are very excited about Bakkt because it promises to bring a huge amount of institutional money into the cryptosphere. Unlike the other Bitcoin futures, Bakkt will offer future contracts backed by real bitcoin.
The project aims to build a trading platform and is supported, among others by billionaire VC fund Tim Draper.
They Made Their First Announcement, and it is A Big One:
Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.
— Bakkt (@Bakkt) September 25, 2018
Bakkt confirms that will be offering future contracts with physical bitcoin delivered.
Future contracts against fiat like USD, GBP, and EUR. Their focus will be attracting institutions.
In less than 2 months, Bakkt will launch their platform and it is investigating every possibility to guarantee this progression is consistent and dynamic at the same time. As indicated by the most recent improvements, Bakkt has declared that the first of its contracts will be physically delivered.:
All this created a bullish sentiment in the market as people are very excited and envisioning Bitcoin ETF endorsement by SEC which won’t include any physical bitcoins like Bakkt’s future contracts.
Individuals and market are getting extremely excited as some Redditor shared:
So why are crypto investors still not bullish? Isn’t this strong enough of a catalyst to move bitcoin higher? Obviously no one is buying that idea.
Bitcoin and the whole market should really be flying right now – this is the mainstream moment HODLERs have been waiting for since the very beginning.
In a matter of days, all the institutional money will enter the market. Most probably month October would bring a huge return towards crypto enthusiast.
What is Bakkt?
Bakkt is the product of many companies including Microsoft and Starbucks. The Boston based exchange Bakkt aims to explore the blockchain technology using Microsoft cloud and open a regulated digital asset that in the near future can be used in stores like Starbucks.
As many crypto enthusiasts believe, Bakkt belove that institutional money will drive the cryptocurrency market to a huge growth. And this is possible creating a suitable environment for institutional money to enter the crypto market, guaranteeing regulation transparency and a quality trading infrastructure.