Given that the SEC is yet to make a long-awaited decision, the launch of investment firm Bakkt is of great significance to the crypto community as it will offer an alternative to financial instruments ignored by the Securities and Exchange Commission.
Cryptocurrency news has stunned many traders, due to the fact that SEC is again postponing its decision. The regulator said it needs more time to make a decision regarding the CBOE Bitcoin ETF. This means that there will be no decision on September 30 and we will have to wait again. The exact date was not announced, but during this time the cryptocurrency markets managed to earn 15 billion US dollars to the current total capitalization of 217.7 billion dollars.
Given the above, everyone is closely watching the company Bakkt, which is scheduled to launch in November. As you know, the firm promises to launch Bitcoin futures, as well as provide the ability to buy BTC directly from a discount broker, along with a portfolio of stocks. That is, it will make Bitcoin ETFs less indispensable.
Bakkt uses time-tested, regulated futures market infrastructure to offer overnight Bitcoin futures with “physical” delivery and custody of the asset. Bakkt is also working to address compliance issues for regulated sites for their clients and shareholders. The company plans to make digital assets more liquid, reliable and accessible, using all possible innovations.
The firm's CEO said that the company intends to provide clients with investment solutions in a new class of digital assets, and will also provide the additional security necessary for this.
You May Also Like
First regulated Bitcoin fund opens in Canada
First Block Capital recently announced that the FBC Bitcoin Trust, available to accredited investors, has achieved mutual trust status as it is now also available on the NEO Connect platform.
Fidelity bets on bulls
A day after financial giant Fidelity entered the cryptocurrency market, fund manager Mark Yusko predicted that the industry will be the next fast-growing market.
