The market research and analysis firm Fundstrat has released an update on Bakkt, the Bitcoin and crypto platform being built by Intercontinental Exchange, the owners of the New York Stock Exchange.
Fundstrat attended Bakkt’s Institutional Digital Asset Summit on July 18th at the New York Stock Exchange, along with 150 investors and institutional service providers.
The company will begin testing its Bitcoin futures platform on Monday, which will be physically settled in actual BTC instead of cash. According to Fundstrat
, Bakkt expects to fully launch this quarter with institutional clients on-board from day one.
“Investors at the event are excited about the Bakkt launch, and the notion of physically-settled daily and monthly futures contracts. There was a wide array of clients, mainly with deep traditional equity/derivatives expertise, including prime brokerage services, prop desks, institutional exchanges and some of the largest equity HFT shops (5%+ share) that are preparing to enter crypto and plan to have an equally large impact.
More 2nd Quarter News Digital Currency Guy shared with the team.
Q2 has seen us enter crypto summer with a $200B increase in overall marketcap.
BTC leading the market by surging 165% from $4,103 to $10,888.
ETH, #LTC and #BCH also registered over 100% returns and #XRP underperformed with only 28% gains.
Bitcoin’s market dominance increased significantly in Q2 2019, from 54.6% to 65.0% (+10.4%).