Bakkt says bitcoin futures testing to begin in July


By John McCrank

NEW YORK, June 13 (Reuters) - Bakkt, the startup cryptocurrency platform affiliate of New York Stock Exchange-owner Intercontinental Exchange Inc , said on Thursday it would begin letting users test two physically-settled bitcoin futures contracts on July 22.

The crypto-platform, which has faced regulatory delays since ICE announced plans for the new venture last August, said trading was expected to begin sometime in the second half of the year. Bakkt still needs regulatory approval of its custody warehouse, where the digital assets will be stored.

Exchange operators CME Group and Cboe Global Markets already offer bitcoin futures in the United States, though Cboe's last contract settles this month and has not been renewed.

Unlike CME and Cboe's cash-settled futures, Bakkt's contracts will be physically settled, meaning bitcoin will be delivered to the Bakkt warehouse when the contracts expire.

This article appears in: Stocks , Politics
Referenced Symbols: CME ,

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