Kelly Loeffler, the former CEO of Bakkt, has recently taken a seat in the U.S. Senate for the state of
Bakkt is a Bitcoin futures trading platform oriented toward institutional investors. It was launched by the Intercontinental Exchange (ICE), which also operates the New York Stock Exchange (NYSE) on September 23rd, 2019.
The platform offers physically and cash-settled Bitcoin futures contracts, as well as options. Its warehousing solution is regulated and overseen by the CFTC, which provides institutions with an opportunity to receive exposure to Bitcoin’s price without worrying about its safekeeping.
Moreover, Bakkt worked closely with the Commodity and Futures Trading Commission (CFTC) in order to develop Bitcoin futures contracts which are transparent and appropriate, but also compliant with the existing Federal legislation.
The core product of Bakkt is the physically-settled Bitcoin futures contract. At the end of the expiration period of this contract, the trader will receive an actual bitcoin, rather than its cash equivalent. This is supposed to introduce more liquidity and stability on the market.
There are two types of these Bitcoin futures contracts. The first ones are settled daily, enabling users to trade in a same-day market. The other one is settled once a month and follows a larger price curve.
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