Bakkt back in the news! Anticipation for Bakkt continues to grow. It has been trumpeted as a driver of future crypto adoption and even the harbinger of the new bull market.
Bakkt back in the spotlight means one thing – Wall Street firms are looking for it and anticipating it. The promise of cryptos legendary returns with the confidence of regulatory oversight is everything Wall Street loves.
But. As of today, Bakkt hasn’t launched yet. It’s still hype. Until it launches, it’s nothing but hype. But hopefully, that changes.
The Bakkt launch has, unfortunately, taken longer than many in the crypto community has expected. But we’ve been told by Bakkt that the wheels are turning. On July 22nd, “user acceptance testing (UAT) is scheduled to begin”, according to the exchange.
In other news, Bakkt hosted an institutional summit this week at their parent company ICE’s NYSE. Anecdotes from the event have many feeling bullish for Bitcoin in the latter part of this year. More than 150 investors showed up for this conference, according to Fundstrat.
The Commodity Futures Trading Commission, which is critical in the launch of Bakkt’s Bitcoin futures contracts, also showed up. Apparently, “the CFTC is seeing growing demand and interest for bitcoin futures from the public” according to the Fundstrat Report.
The unveiling of the futures contracts for Bitcoin offered by the CME bad CBOE is largely considered to be the spark that ignited the crypto bull run of 2017. Will history repeat itself?
What do you think? Are we on the cusp of an enormous bull run that can rival 2017’s? We know that the CFTC is cracking down hard. Will Bakkt be spared? Let us know what you think on our Facebook Page!