After the cryptocurrency markets sunk to yearly lows over the past few weeks, investors are becoming more and more involved in the news regarding the upcoming institutional aimed products including that being offered by Bakkt.
As reported by News BTC, after the recent decision by Bakkt’s to delay their platform’s release until the end of January next year, the firm has released an update through their official Twitter account letting people know why Bitcoin will initially become their main focus. It also noted that its liquidity and classification as a commodity by the US Commodities Futures Trading Commission are primary driving factors behind their decision.
As the world’s most liquid and widely distributed cryptocurrency, and where we’ve seen the most customer demand, bitcoin’s profile creates a liquid product on which to build a futures contract (2/2)— Bakkt (@Bakkt) November 21, 2018
The importance of platform such as Bakkt has grown massively since the crypto markets crashed over this past month, many investors now feel that institutional investors will be able to resurrect the markets and lift them back to their once all-time high - and maybe even surpass that.
Even with all this in mind, Bakkt has been delayed by several months which means that investors will have to wait longer to see how the markets will naturally stretch out without the help of any influence on Wall Street funding.
The Bakkt CEO, Kelly Loefller in a recent Medium post that the exchange will be delaying the launch saying that their commitment to releasing a stellar platform is fully operational from day one:
“Given the volume of interest in Bakkt and work required to get all of the pieces in place, we will now be targeting January 24, 2019, for our launch to ensure that our participants are ready to trade on Day one.”
How institutional investors look to Bakkt and the Bitcoin futures product that is offered will give a massive hint to whether or not traditional retail investors are prepared to enter the crypto markets.
What are your thoughts? Let us know what you think down below in the comments!