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Today's winner:The Beginning of Bakkt? ICE Launches BTC Futures Contracts » Cryptos Rocket
The Intercontinental Exchange (), which owns the New York Stock Exchange (NYSE), launched its own bitcoin futures contracts for .Futures Contracts Are All the Rage The idea regarding futures contracts and trading physical bitcoins has been intriguing to most, with other companies like Chicagos CME will also launch bitcoin futures starting in early 2020. Whats special about ICEs bitcoin futures is that this move of , a trading platform designed to allow institutional traders access to cryptocurrencies. In addition, its also built for retailers who are interested in accepting cryptocurrencies as means of payment.The news was first initiated in a tweet on Sunday night, when bitcoin was trading for just over $10,100. At press time, the price of the asset has fallen somewhat to around $9,900.All users settling contracts will receive bitcoin units upon doing so. ICE contracts are also federally regulated. Many enthusiasts are hopeful that bitcoin and the cryptocurrency industry can begin taking valid steps towards legitimacy through moves like this.Marking the start of Bakkt is interesting in that bitcoin has fallen in price over the past 48 hours. Its been suggested by many analysts and experts that enterprises like Bakkt would potentially cause spikes in the bitcoin price, and while its still too early to tell, the latest signs of bitcoins price maneuvers dont look good.Perhaps the problem is that Bakkt, for the most part, is old news. First introduced in late 2018, the platform has been meandering its way through crypto news sites for roughly one year and has encountered delay after delay. Much like the many bitcoin exchange-traded funds (ETFs) that have been submitted, the enterprise has failed to come to fruition within a set period, so while many still anticipate the release of said products, others have lost interest and moved on.Theres Still Time to Do Good ThingsThis is a shame when one considers just how revolutionary these ventures are for crypto. The idea that institutional traders individuals and corporations that many believe would legitimize the crypto space are finally getting full, regulated access to digital currencies and that more businesses are allowing their use as forms of payment is very big, so if this is all we have to look forward to regarding the bitcoin price a couple of small rises here and there followed by almost instant drops thats disappointing to say the least.At press time, Bakkt lists companies like and as investing enterprises. The big claim to fame of futures contracts involving bitcoin is that there are agreements in place to sell these contracts at set prices, meaning that despite the coins volatility, sellers and traders can agree on specific terms beforehand and potentially avoid price swings.Tags: Bakkt, bitcoin futures contracts, ICEShare this post