For the crypto industry, the last year bought interesting developments that will influence the space in the upcoming years.
One of the recent advancements includes the emergence of cryptocurrency derivatives. Leading this market is a new institution namely Bakkt, a venture created and backed by a well-established group of organizations.
While the concept of bitcoin futures existed since 2017, Bakkt has made it more popular and mainstream. The venture is led by Intercontinental Exchange (ICE), the same group that operates and manages the New York Stock Exchange (NYSE).
Bakkt was launched in August 2019 after the US Commodity Futures Trading Commission granted its approval. With the service of providing ‘physically-backed’ bitcoin futures contract, Bakkt has attracted a plethora of institutional investors into the cryptocurrency space.
They Continue to Create News by Their Moves
In the last month of 2019, the exchange recorded a trading volume close to $50 million in a single day. A month back it has launched two new…