Bakkt May Not Be the Big Bang Crypto’s Been Waiting For

Bakkt May Not Be the Big Bang Crypto’s Been Waiting For

August 20th, 2019   |   Finance Magnates

How will changes in the crypto ecosystem over the last year affect the launch of ICE’s Bakkt platform?

More than a year has passed in between the time that the Intercontinental Exchange (ICE) announced that it would be launching Bakkt, its new bitcoin futures exchange, and digital assets platform.

A lot has changed over the course of that year. Bitcoin prices sank to frightful lows, and then recovered remarkably; CBOE exited the futures market, and a number of new players entered it. Additionally, regulators in the US and elsewhere have placed an unprecedented amount of attention on the cryptocurrency industry.

As such, Bakkt is entering a rather different industry than it would have been if it was launched in November of 2018 when it was originally expected to go live. When the platform was originally announced, a number of analysts predicted that it would have a significant positive impact on cryptocurrency markets and the cryptocurrency industry as a whole.

But now–a year later–how could Bakkt’s possible impact on cryptocurrency markets have changed?