“In the minds of many, Bakkt’s launch has become a full-fledged narrative for when & how the bear market will end. Hype aside, some people have lingering concerns about Bakkt.”
If all goes accordingly, the company will launch one-day physical Bitcoin futures on December 12th. As reported in the past by multiple news outlets, this will allow institutional investors to take physical ownership of cryptocurrency, setting the offering aside from current futures available on the market, including pioneers Cboe and CME Group. Executives at Bakkt have used this story to prevent worries regarding the platform having a ‘detrimental’ long-term effect on Bitcoin. Experts may say that they haven’t gone through it enough in their explanation. As said by Bitcoinist:
0/ @Bakkt plans to launch next month on December 12, and some people are hoping it kicks off another crypto bull run. Now seems like a good time for a quick discussion on:- what Bakkt is - why it might be exciting - when it will get regulatory approval Thread. — Jake Chervinsky (@jchervinsky) November 6, 2018
“Highlighting the lack of a complete picture, Chervinsky quotes ex-Morgan Stanley senior executive Caitlin Long, who in October relayed her concerns on social media. These specifically revolve around rehypothecation, the practice of financial institutions using deposited client collateral to their own ends.”Officials from Bakkt followed up by solidifying their transparent approach to their offering in what was essentially a new big to calm the doubts surrounding the industry. Following the futures, the American Lawyer mentioned that in the next phase of the expansion of the platform, there could be some significant changes. What are your thoughts? Let us know what you think down below in the comments!