Bakkt Brings Bitcoin [BTC] Futures Contracts to Asia, Launch in December

ice bakkt launch
Image Source: Bloomberg

Bakkt Brings Bitcoin [BTC] Futures Contracts to Asia, Launch in December

ICE (Intercontinental Exchange), the parent company of NYSE and Bakkt, makes another big announcement. It plans to launch cash-settled monthly Bitcoin futures in Singapore on December 9, 2020.

The new Bakkt Bitcoin Cash Settled Monthly Futures will enable investors to “gain or hedge exposure in bitcoin markets.”

The new contract will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore, which are regulated by the Monetary Authority of Singapore.

ICE serves as the operator of exchanges and the clearinghouses for assets and their derivatives in the financial markets.

Adam White, the COO of Bakkt tweeted,

The first cash-settled #bitcoin futures contract with a settlement price exclusively from a regulated market coming Dec 9th via @ICE_Markets and @Bakkt

Make to mistake, CBOE and CME futures contracts were the first regulated cash-settled derivatives in the market. Since the Singapore version’s price is extracted from Bakkt, which is a regulated entity, the COO affirms the improvements in price discovery.

The Bakkt Bitcoin (USD) Monthly Futures contract stirred the crypto markets for about two years before its launch. While the hype that came with it soon disappeared after a soft launch, it has seen considerable growth since then.

How long do you think before Bakkt will launch options in the markets as well? Please share your views with us. 

Summary
Bakkt Brings Bitcoin [BTC] Futures Contracts to Asia, Launch in December
Article Name
Bakkt Brings Bitcoin [BTC] Futures Contracts to Asia, Launch in December
Description
ICE (Intercontinental Exchange) the parent company of NYSE and Bakkt makes another big announcement. It plans to launch cash-settled monthly Bitcoin futures in Singapore on December 9, 2020. 
Author
Publisher Name
CoinGape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Nivesh Rustgi

Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

Post your comment...
Nivesh Rustgi 1094 Articles

Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

Follow Nivesh @