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Topic: BAKKT SETTLEMENT (Read 125 times)

figmentofmyass
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BAKKT SETTLEMENT
November 24, 2019, 06:15:41 AM
#2
Quote from: Rosilito on November 24, 2019, 05:19:49 AM
I am wondering why Bakkt chooses to settle it in CASH instead of BITCOIN?
Is Bakkt still crypto currency friend? or may be these are US aim to pull down bitcoin?

they do offer bitcoin-settled futures contracts:
https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures
https://www.theice.com/products/72035483/Bakkt-Bitcoin-USD-Daily-Futures

nothing is changing about that. this is just a new offering for those who want settlement in cash. i reckon it's intended to compete with the CME bitcoin futures market. i don't think there's anything inherently bad about cash settlement anyway.
Rosilito
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Wish for the rain? Then deal with the mud too.
Re: BAKKT SETTLEMENT
November 24, 2019, 05:19:49 AM
#1
I am wondering why Bakkt chooses to settle it in CASH instead of BITCOIN?
Is Bakkt still crypto currency friend? or may be these are US aim to pull down bitcoin?

Quote
Bakkt prepares to offer cash-settled bitcoin futures. Bakkt announced the development in a press release issued on Nov 21st. The new contract will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore, which is regulated by the Monetary Authority of Singapore.

Bakkt wants to set itself apart from its rival CME who currently leads the institutional-driven cash-settled Bitcoin futures contract. The new Bakkt cash-settled Bitcoin futures contract will be listed on Dec 9th and available for investors around the world. On the same day (Dec 9th), Bakkt will also offer Bitcoin options to its investors.

CME is also working to launch a Bitcoin options contract. Currently, its application is pending regulatory approval and expected to launch by Q1 2020. CME launched its Bitcoin futures trading in late 2017. The launch during Bitcoin bull run and head start allowed CME to gain a large market share.

Source:  click here
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