The regulated ecosystem of Intercontinental Exchanges for Bakkt should launch on the 12th December but concerns are still in the air according to the latest industry figures earlier in the week.
Following a series of tweets, the securities lawyer and a common tweeter on social media, Jake Chervinsky explained the holes in public knowledge regarding Bakkt which is currently awaiting regulatory permission to begin operations.
“In the minds of many, Bakkt’s launch has become a full-fledged narrative for when & how the bear market will end. Hype aside, some people have lingering concerns about Bakkt.”
0/ @Bakkt plans to launch next month on December 12, and some people are hoping it kicks off another crypto bull run. Now seems like a good time for a quick discussion on:
– what Bakkt is
– why it might be exciting
– when it will get regulatory approval
— Jake Chervinsky (@jchervinsky) November 6, 2018
If all goes accordingly, the company will launch one-day physical Bitcoin futures on December 12th.
As reported in the past by multiple news outlets, this will allow institutional investors to take physical ownership of cryptocurrency, setting the offering aside from current futures available on the market, including pioneers Cboe and CME Group.
Executives at Bakkt have used this story to prevent worries regarding the platform having a ‘detrimental’ long-term effect on Bitcoin. Experts may say that they haven’t gone through it enough in their explanation.
As said by Bitcoinist:
“Highlighting the lack of a complete picture, Chervinsky quotes ex-Morgan Stanley senior executive Caitlin Long, who in October relayed her concerns on social media.