Ethereum Futures? Bakkt Hints It's Open To Altcoins

Ethereum Futures? Bakkt Hints It's Open To Altcoins-Intercontinental Exchange’s delayed cryptocurrency “regulated ecosystem” Bakkt is already mulling the destiny addition of altcoins, the brand hinted November 23.

BAKKT: WE’LL ‘CONSIDER’ NON-BITCOIN CONTRACTS

In a tweet, executives mentioned they would take into account “customer feedback” as a essential motivating power when deciding which cryptocurrencies to aid moreover Bitcoin.

Bakkt had eyed December 12 as a release date for its first product, bodily Bitcoin futures, but final week instantly postponed its debut to the quit of January.

“We’ll believe extra contracts because the landscape evolves and as we get hold of extra purchaser comments about what they desire and need,” the tweet read.

No genuine belongings had been mentioned, whereas commentators preserve to debate the nascent platform’s energy effect on Bitcoin markets.

Question: We've been asked if we will add other digital currencies

Answer: We’ll consider additional contracts as the landscape evolves and as we receive additional customer feedback about what they want and need
— Bakkt (@Bakkt) November 23, 2018

PREMATURE?

Days previous than the brand showed the postponement, BTC/USD $3800.84 -0.47% had all started plummeting to lows which ended up beneath $3700, constituting an nearly 40 percentage drop in value.

Volatility, a few said, may have been as a consequence of insiders understanding concerning the Bakkt determination beforehand and promoting their holdings which that they had formerly accumulated founded mostly on a December launch.

While distinct Wall Street heavyweights have plans to supply institutional investors cryptocurrency-related instruments, Bakkt stays the probably first to serve the market, sparking hopes an investment inflow may opposite Bitcoin’s ongoing bear market.

Well-known figures have supported that narrative. Investor Mike Novogratz, in particular, has informed BTC/USD would growth dramatically after a few months of providers reminiscent of Bakkt being operational.

“By the quit of the primary quarter we are able to take out $10,000 and after that, we might be again to new highs — to $20,000 or more,” he instructed Financial News previous this month.

Bakkt didn't voice problems over its release delay, rather framing the call as being founded mostly at the ought to get its home so as to guarantee buying and promoting went seamlessly.

“Given the amount of passion in Bakkt and work required to get all the items in place, we are able to now be targeting January 24, 2019 for our release to guarantee that our participants are competent to commerce on Day 1,” CEO Kelly Loeffler wrote in an official announcement.

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