ice bakkt launch

ICE (Intercontinental Exchange), the parent company of NYSE and Bakkt, makes another big announcement. It plans to launch cash-settled monthly Bitcoin futures in Singapore on December 9, 2020.

The new Bakkt Bitcoin Cash Settled Monthly Futures will enable investors to “gain or hedge exposure in bitcoin markets.”

The new contract will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore, which are regulated by the Monetary Authority of Singapore.

ICE serves as the operator of exchanges and the clearinghouses for assets and their derivatives in the financial markets.

Adam White, the COO of Bakkt tweeted,

The first cash-settled #bitcoin futures contract with a settlement price exclusively from a regulated market coming Dec 9th via @ICE_Markets and @Bakkt

Make to mistake, CBOE and CME futures contracts were the first regulated cash-settled derivatives in the market. Since the Singapore version’s price is extracted from Bakkt, which is a regulated entity, the COO affirms the improvements in price discovery.

The Bakkt Bitcoin (USD) Monthly Futures contract stirred the crypto markets for about two years before its launch. While the hype that came with it soon disappeared after a soft launch, it has seen considerable growth since then.

How long do you think before Bakkt will launch options in the markets as well? Please share your views with us. 

The post Bakkt Brings Bitcoin [BTC] Futures Contracts to Asia, Launch in December appeared first on Coingape.

Source: Coin Gape