And how's that going to be different from the platforms I mentioned?
Well if I'm being specific, with Bakkt, investors can buy physically backed futures. I guess what you're trying to say is that you're basically buying Bitcoin either way, and I agree with that. Some investors might be more inclined to play with toys they're accustomed to though.
Do people have to understand Bitcoin's inner workings, intricacies and technicalities to use them? I guess, no. And I don't think that Bakkt will be able to add more simplicity to what we already have on this front. The only thing which seems to matter here is the name behind this platform, with Bakkt’s parent company being Intercontinental Exchange (i.e. the Wall Street dudes)
And here we are back to square one, that is, whether Wall Street traders and their likes really need it with Bitcoin when even housemaids can now have and use crypto?
It's going to be simpler in a sense that traditional investors would be able to play with Bitcoin in their arena. They won't need to step outside their comfort zone at all because they're already used to futures. It's basically like, people can seamlessly integrate investing in crypto into their routine without any additional working knowledge.
Are these needed? I would think that most of those who have a working knowledge of crypto would say no. I do believe some people would prefer these over actual coins though, considering it's catered exactly for them. It's a want rather than a need, basically. I don't necessarily think it's going to be a smashing success, but I feel like I know where they're coming from.
