Bakkt to Open Warehouse Next Week Ahead of Bitcoin Futures Launch

Exchange-backed bitcoin futures provider, Bakkt has revealed
in a tweet that it will be ready to start receiving Bitcoin deposits from next
week, Sept. 6.

On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23. These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody.

Although Bakkt’s launch of its Bitcoin future had been delayed in the past by regulatory hiccups, the firm revealed that it has secured necessary regulatory approvals to launch its service. Bakkt will be the first company to offer US residents physically-settled futures contracts.

Interestingly, customers will receive bitcoin settlements at the end of their contracts, as opposed to CME which offer customers fiat payments.

ETF which means an exchange-traded fund is a form of investment that is tied to the price of an asset and is traded on an exchange.