Bakkt Sees Most Demand in Bitcoin as the Futures Platform Launch Delayed Until January 2019

On November 20, ICE, the parent company of the New York Stock Exchange, announced the delay of the Bakkt Bitcoin futures market launch from December 12 to January 24, 2019. The statement says Bakkt needs more time to handle the onboarding of customers and clearing members before opening the futures market. "ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval," the announcement read. "The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract." On Tuesday, the company released an update on their Twitter account explaining why Bitcoin will initially be their primary focus. It says that Bitcoin's liquidity and classification as a commodity by the U.S. Commodities and Futures Trading Commission (CFTC) are the primary driving factors behind their decision. As the world's