NYSE owner delays bitcoin futures launch

21 November, 2018

It looks like the crypto markets may not get a December boost from Wall Street after all. Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), on Tuesday announced that it would delay the launch of its much-anticipated bitcoin futures product until at least Jan. 24, 2019.

That product, the Bakkt Bitcoin (USD) Daily Futures Contract, had been scheduled to go live on ICE Futures US on Dec. 12, providing US investors with their first opportunity to trade a physically-settled crypto futures product on a respected, regulated mainstream exchange (The bitcoin futures on CME and CBOE are cash-settled, meaning that no bitcoins exchange hands when the contracts expire).

ICE claimed that the delay would afford the firm additional time to onboard customers before it begins warehousing BTC and opens the futures market.

From the announcement: “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 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.”

Analysts had speculated that Bakkt’s scheduled December launch could help catalyze a year-end crypto market rally, with some bulls — most notably Fundstrat’s Tom Lee — predicting that the bitcoin price could ascend as far as $15,000 heading into the new year.


Source link   Crypto currency: Bitcoin


Investing Tips For Crypto Bear Markets

Investing in cryptocurrencies can be overwhelming and difficult, especially during periods when a bear market controls the prices. To deal with it, let's discuss...

Block Show Asia 2018 report

Singapore has welcomed guests for another important crypto-event. The exhibition Block Show Asia 2018 brought numerous business contacts for LH-Crypto. The company presented new products...

Bitcoin is 43% More Profitable to Mine

When Craig Wright formed an alliance with CoinGeek founder Calvin Ayre to launch a hostile takeover of the Bitcoin Cash (BCH) network, the two men predicted that their BCH...

FIBO Group increases leverage for cryptos

FIBO Group is glad to announce that the 3rd of December 2018, the leverage for all the tradable cryptocurrencies shall be increased to 1:10. The new leverage shall allow you to...


Second Largest Drop of Bitcoin Mining

The crypto market's prolonged decline has finally begun to manifest in the bitcoin mining industry, which had at times seemed impervious to falling prices but is now...

Long Time to Reach All-Time High Again

Throughout the past eleven months, the Bitcoin price has dropped from $19,500 to $3,000, by nearly 85 percent. The dominant cryptocurrency fell by 85 percent on average...

Bitcoin is a bubble but appropriate for foreign missions

Russian Economic Development Minister Maksim Oreshkin has stated that while bitcoin has deflated like a soap bubble, it has impacted the world...

Crypto Market Loses $6 Billion

More than $6 billion was wiped out of the cryptocurrency market as Bitcoin (BTC), the most dominant cryptocurrency in the market, recorded a loss of 8.6 percent from $4,500 to $4,110. On fiat-to...