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Imminent change in the cryptocurrency world

The crypto community eagerly awaits the launch of the BAKKT Bitcoin Futures, as it could pump institutional money into the markets. Whether it is sufficient for a reversal of the bear market is questionable.

The role of the latest announcement by BAKKT CEO Kelly Loeffler is not yet in sight. As Loeffler announced via medium, the company was able to secure unspecified investment products, which the Rosenthal Collins Group (RCG) issued. The derivatives broker RCG already sold all client accounts in December to Marex Spectron, a UK-based broker for a variety of financial products. In the course of this sale, BAKKT was able to attribute “valuable assets” to its own balance sheet.

According to its own statements, BAKKT is currently working closely with the relevant regulatory authority, the Commodity Futures Trading Commission (CTFC), to launch the first physical Bitcoin futures as soon as possible. As Loeffler announced, the Intercontinental Exchange subsidiary does not want to wait until approval, but continues to work hard to improve its services.

The acquisition of assets highlights this:

“The transaction underlines that we will not stop while we await CFTC approval for the [Bitcoin Futures] launch. Our mission requires substantial investment in technology to establish an innovative platform and financial market expertise to deliver the most reliable FinTech ecosystem for digital assets. ”

BAKKT no longer without competition

Recently, the Hong Kong company CoinFLEX entered the race for the first physical Bitcoin Futures. The company plans to start operations in early February. Only time will tell whether BAKKT or CoinFLEX will be the winner.

Published inCryptocurrencies

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