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#BAKKT
Since Bitcoin futures exchange Bakkt announced on Monday that it is moving forward with plans to launch physically-settled bitcoin futures products, all of you guys must be wondering what is bakkt and how would it impact bitcoin and crypto market in short and long run. So, our team decided to make a summarised and brief report about Bakkt. Read it carefully guys :-
1. What is Bakkt :- To understand this, we have to start with the creator, Jeff Sprecher, and his wife Kelly Loeffler. Bakkt is an idea developed by Jeff Sprecher who is President and CEO of Intercontinental Exchange (ICE), the company that owns the world’s largest stock exchange, the New York Stock Exchange (NYSE). Jeff is also an operator in the global stock exchange services. His wife Kelly Loeffler is the CEO of Bakkt. After its launching, Bakkt will work in close relation with well-known companies in the fields where we experience growth in need of consumer fintech. Such giants include Microsoft, Starbuck, and the BCG.
The primary goal of launching Bakkt is to develop an open ecosystem that can support the growing needs for digital assets in the market. Some of the investors into Bakkt include; the Galaxy Digital, Pantera Capital, Horizons Ventures, the Eagle Seven, Fortress Investment Group, among other investors.
2. Relationship between Bakkt and ICE (INTERCONTINENTAL EXCHANGE) :- Bakkt is collaborating with its affiliated company, ICE as its exchange and clearing partner. Bakkt CEO did not say exactly when the products would trade, but added they will begin testing them in July. The ICE backed exchange will commit $35 million to cover the default risk of its trading members.
3. History, struggle and eventual Success:- Bakkt has been trying to get the regulatory green-light from the U.S. Commodity Futures Trading Commission (CFTC) to operate its exchange since last year. It also recently acquired custodian company DACC in an attempt to build its own custody and win NYDFS approval. ICE states in its Futures U.S. filing that bitcoins connected with the futures contracts will be stored in Bakkt Warehouse, the custody that Bakkt is seeking NYDFS for. The company currently plans to launch two futures products:-
I) A daily settlement bitcoin future that allows customers to trade in a same-day market.
II) A monthly-futures contract that will enable trading in the front month and across the forward pricing curve.
4. Advantages of Bakkt Launch :- There’re a lot of benefits that we expect to come along the launching of Bakkt. It means that all investors into Cryptocurrency have a reason to smile. We can not go through each and every benefit in details in single post, therefore we will just put up a list of core benefits which are mentioned below :-
A. Bakkt will work as a mode of payment for customers in different fields. Therefore it'll enable easy pay using crypto.
B. Another great benefit that comes with Bakkt is regulation of custody services. And this will allow secure storage of the Bitcoin.
C. Improved Efficiency and Mass adoption.
D. Bakkt will have a positive impact on the overall capitalization of digital assets in the market.
Conclusion :-
We laid out possible potential advantages that Bakkt will bring into crypto market.
However there are certain cons too, but in our opinion, those won't matter much once a reliable platform Like Bakkt is launched.
So the conclusion is with Bakkt, we are likely to experience trading volumes grow not only in bounds and leaps, but it can as well rival the exchange volumes. Also, expect more investors to transfer from OTC markets to platforms such as Bakkt. As a result, we hope increased liquidity and reduced volatility for investors. It can also help in increasing ETF approvals. Therefore nobody would be able to stop btc from mooning towards its all time high and further grow towards higher targets.
We're always #1 in delivering every crypto related information that may affect bitcoin or altcoins in anyway in most summarized and precise way possible.
@cryptocoincoach #ProfessionalTradingGuide
Since Bitcoin futures exchange Bakkt announced on Monday that it is moving forward with plans to launch physically-settled bitcoin futures products, all of you guys must be wondering what is bakkt and how would it impact bitcoin and crypto market in short and long run. So, our team decided to make a summarised and brief report about Bakkt. Read it carefully guys :-
1. What is Bakkt :- To understand this, we have to start with the creator, Jeff Sprecher, and his wife Kelly Loeffler. Bakkt is an idea developed by Jeff Sprecher who is President and CEO of Intercontinental Exchange (ICE), the company that owns the world’s largest stock exchange, the New York Stock Exchange (NYSE). Jeff is also an operator in the global stock exchange services. His wife Kelly Loeffler is the CEO of Bakkt. After its launching, Bakkt will work in close relation with well-known companies in the fields where we experience growth in need of consumer fintech. Such giants include Microsoft, Starbuck, and the BCG.
The primary goal of launching Bakkt is to develop an open ecosystem that can support the growing needs for digital assets in the market. Some of the investors into Bakkt include; the Galaxy Digital, Pantera Capital, Horizons Ventures, the Eagle Seven, Fortress Investment Group, among other investors.
2. Relationship between Bakkt and ICE (INTERCONTINENTAL EXCHANGE) :- Bakkt is collaborating with its affiliated company, ICE as its exchange and clearing partner. Bakkt CEO did not say exactly when the products would trade, but added they will begin testing them in July. The ICE backed exchange will commit $35 million to cover the default risk of its trading members.
3. History, struggle and eventual Success:- Bakkt has been trying to get the regulatory green-light from the U.S. Commodity Futures Trading Commission (CFTC) to operate its exchange since last year. It also recently acquired custodian company DACC in an attempt to build its own custody and win NYDFS approval. ICE states in its Futures U.S. filing that bitcoins connected with the futures contracts will be stored in Bakkt Warehouse, the custody that Bakkt is seeking NYDFS for. The company currently plans to launch two futures products:-
I) A daily settlement bitcoin future that allows customers to trade in a same-day market.
II) A monthly-futures contract that will enable trading in the front month and across the forward pricing curve.
4. Advantages of Bakkt Launch :- There’re a lot of benefits that we expect to come along the launching of Bakkt. It means that all investors into Cryptocurrency have a reason to smile. We can not go through each and every benefit in details in single post, therefore we will just put up a list of core benefits which are mentioned below :-
A. Bakkt will work as a mode of payment for customers in different fields. Therefore it'll enable easy pay using crypto.
B. Another great benefit that comes with Bakkt is regulation of custody services. And this will allow secure storage of the Bitcoin.
C. Improved Efficiency and Mass adoption.
D. Bakkt will have a positive impact on the overall capitalization of digital assets in the market.
Conclusion :-
We laid out possible potential advantages that Bakkt will bring into crypto market.
However there are certain cons too, but in our opinion, those won't matter much once a reliable platform Like Bakkt is launched.
So the conclusion is with Bakkt, we are likely to experience trading volumes grow not only in bounds and leaps, but it can as well rival the exchange volumes. Also, expect more investors to transfer from OTC markets to platforms such as Bakkt. As a result, we hope increased liquidity and reduced volatility for investors. It can also help in increasing ETF approvals. Therefore nobody would be able to stop btc from mooning towards its all time high and further grow towards higher targets.
We're always #1 in delivering every crypto related information that may affect bitcoin or altcoins in anyway in most summarized and precise way possible.
@cryptocoincoach #ProfessionalTradingGuide
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