Bakkt Postpones Launch of Bitcoin Futures

Bakkt, a company owned by the New York Stock Exchange, recently announced their decision to postpone the launch of their highly anticipated Bitcoin Futures trading platform until late January 2019. To back this up, on November 21 they released a positive update on why they are now prioritizing Bitcoin.

In a 2-part Twitter thread, Bakkt noted that Bitcoin is their primary focus due to its high liquidity, customer demand, and classification as a commodity by the US Commodities and Futures Trading Commission (CFTC).

As the world’s most liquid and widely distributed cryptocurrency, and where we’ve seen the most customer demand, bitcoin’s profile creates a liquid product on which to build a futures contract (2/2)

— Bakkt (@Bakkt) November 21, 2018

Despite the recent downfall in Bitcoin’s price, BTC still remains king, as it currently holds 53.1% of the total cryptocurrency market capitalization and is the most widely known and adopted cryptocurrency to date. Which is…