Bitcoin futures from ICE supported firm Bakkt to launch in September

The New York State Department of Financial Services (DFS) has granted a charter under New York Banking Law to Bakkt Trust Company LLC to operate as a limited liability trust company.

bitcoin exchange Bakkt

In August 2018, Bakkt, an Intercontinental Exchange (ICE) supported company for bitcoin futures contracts announced formation. After several delays, the CEO of Bakkt, Kelly Loeffler reported today that on September 23rd it will officially launch services for custody and physically-delivered daily and monthly bitcoin futures contracts in partnership with ICE Futures U.S. and ICE Clear US.

“Our contracts have already received the green light from the CFTC through the self-certification process and user acceptance testing has begun. With approval by the New York State Department of Financial Services (DFS) to create Bakkt Trust Company, a qualified custodian, the Bakkt Warehouse will custody bitcoin for physically delivered futures. This offers customers unprecedented regulatory clarity and security alongside a regulated, globally accessible exchange in a market underserved by institutional-grade infrastructure.”

“Bakkt’s bitcoin futures will be exchange-traded on ICE Futures U.S. and cleared on ICE Clear US, which are federally regulated by the CFTC. Until our launch on September 23, we’ll continue onboarding and testing with market participants.”

– Bakkt CEO Kelly Leoffler

To date, DFS has approved 22 charters or licenses for companies in the virtual currency marketplace.

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