The Intercontinental Exchange (ICE), will list and enable trading of the new Bakkt Bitcoin (USD) Daily Futures Contract on December 12, 2018. What is even exciting about this new announcement is that the Bakkt Bitcoin (USD) Daily Futures Contract will be physically settled for Bitcoin through the ICE’s Digital Asset Warehouse at Bakkt LLC and cleared by ICE Clear US, Inc. All quotations will be in USD and the block trade minimum quantity will be 10 Bitcoins.
In August, the ICE which has the backing of traditional wall street companies as Star Bucks and Microsoft, the trading giant who is the owner of the New York Stock Exchange, announced the formation of a new company Bakkt. This new venture, ICE, said would kick-start the process of making Bitcoin a global and trusted currency that should serve a wider base. Their intention was to liaise with regulators and other major players in consulting, retail and technology creating a market place where institutional level investors can easily buy and sell Bitcoin in a regulatory compliant environment.