Cryptocurrency trading platform Bakkt has announced that its physically-delivered bitcoin futures will be informally open to customers next month.
On August 28, 2019, the platform took to Twitter to announce that Bakkt Warehouse, its qualified custodian arm, would begin providing storage services for customers on September 6, 2019, in anticipation of its forthcoming daily and monthly bitcoin futures offerings.
On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23
— Bakkt (@Bakkt) August 28, 2019
These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody
According to a recent blog post from the firm, the warehouse leverages the same protections that are used by the New York Stock Exchange (NYSE), which shares its parent company with Bakkt.
“The Bakkt Warehouse, which is part of the Bakkt Trust Company, is built using the cyber and physical security protections that support the world’s most actively traded markets, including the NYSE,” per the post. “In addition, the independent governance and compliance requirements of a qualified custodian mean that the Bakkt Warehouse is designed to meet the highest standards of oversight.”
The post also noted that the warehouse is protected by $125 million in insurance.
Physically-Delivered Bitcoin Futures
Bakkt’s physically-delivered bitcoin futures are scheduled to go live on September 23, 2019, after years of anticipation from the Bitcoin community.
Physically-delivered contracts enable customers to place bets on the price of an asset at a future date. Customers will receive the actual BTC they bet on when contract expires. Delivery of this bitcoin will come from this recently announced
