The Parent Company Of The NYSE Will Soon Launch Futures On Bitcoins
The New York stock exchange (NYSE) has announced the launch of physically regulated Bakkt Bitcoin futures contracts on December 12. The main feature is that the purchase and sale of bitcoins are fully secured and financed in advance.
The purchase of each contract for USD / BTC involves the transfer of one bitcoin to the account of the owner. Intercontinental Exchange (ICE), the operator of 23 largest stock exchanges, including NYSE, is responsible for the storage of cryptocurrency.
Representatives of the NYSE believe that their product will be a good alternative to futures from CBOE and CME. Earlier we told that Bakkt will not support margin trading. According to the management of the platform, this will allow to maintain “trust pricing” and ensure the stability of the market.
Last year, CME and CBOE launched their bitcoin futures contracts, an event that was followed by the strongest bull market the coin has ever experienced. Using this logic, running another financial instrument might just be a spark plug that starts the bitcoin engine again.
After all, ICE is a reputable institution known for creating a stock exchange recognized worldwide.