Bakkt Announces Bitcoin Futures
Physically backed Bitcoin Futures
Now, Bakkt steps in to bring the market a new product: physically backed Bitcoin Futures. In contrast to the usual Bitcoin Futures you bet something different here:
“These are futures contracts, in the fulfillment of which the asset (here: bitcoin) or the right of ownership changes hands. That is, the Short Position commits to sell the predetermined amount of Bitcoin at the previously agreed price upon expiration of the counterparty’s contract and to transmit it “physically” (if one can speak of it at Bitcoin). If the Bitcoin price is higher than the agreed price at that time, the short position has lost. The deal for the long position was accordingly good. “
Announcement after personnel change
The physically deposited Bitcoin futures were originally planned for November. Having recently received prominent support from Coinbase’s Adam White, the stock exchange has now announced in a press release the final date for the launch of futures contracts: December 12, 2018.
For the latest cryptocurrency news, join our Telegram!
Image by Shutterstock
Article comments