Bakkt
@Bakkt
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Bakkt builds solutions that enable businesses to grow with the crypto economy through a regulated approach— in the U.S. and Internationally.
Joined August 2018
We’re live!. The first Bakkt Bitcoin Futures trade was executed at 8:02pm ET at a price of $10,115.
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Today, we’re pleased to update you on the launch of bitcoin futures contracts developed by Bakkt in collaboration with ICE Futures U.S. and ICE Clear U.S.
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We are pleased to confirm that we have completed our first round of funding of $182.5 million
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Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR. For example, buying one USD/BTC futures contract will result in daily delivery of one Bitcoin into the customer’s account.
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Bakkt Bitcoin Futures are now actively trading on ICE Futures U.S., while the Bakkt Warehouse continues to onboard bitcoin. We take our customers’ trust seriously, and are excited to serve this market.
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Today we set a new daily record of 1,179 Bakkt Bitcoin Futures contracts traded.
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Given the volume of interest in Bakkt and work required to get all of the pieces in place, we will now be targeting January 24, 2019 for our launch to ensure that our participants are ready to trade on Day 1.
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Today our Warehouse opens for customer bitcoin deposits and withdrawals as we prepare for the Bakkt Bitcoin Daily & Monthly Futures, launching September 23. The availability of physical delivery brings more flexibility in managing bitcoin exposure.
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Bakkt Warehouse custody is live. Now accepting customer bitcoin deposits and withdrawals. Only 17 days until the Bakkt Daily and Monthly Futures contracts launch on Sep 23.
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On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23. These contracts will enable physical delivery of bitcoin with end-to-end regulated markets and custody.
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The Bakkt Warehouse is active for futures. Bitcoin deposited at our Warehouse is protected by a $125 million insurance policy.
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Question: We've been asked if we will add other digital currencies. Answer: We’ll consider additional contracts as the landscape evolves and as we receive additional customer feedback about what they want and need.
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Today kicks off user acceptance testing @ICE_Markets for the Bakkt Bitcoin Daily & Monthly Futures contracts. Testing is proceeding as planned with participants from around the world.
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On Sept 23rd we’re set to launch two physically delivered bitcoin futures contracts:. • Bakkt Bitcoin (USD) Daily Futures.• Bakkt Bitcoin (USD) Monthly Futures. Read more
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Today we set a new daily record of 1,756 Bakkt Bitcoin Futures contracts traded.
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Only 7 days until the launch of the bitcoin futures contract. One step closer to delivering on our mission: Expanding access to the global economy by building trust in and unlocking the value of digital assets.
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”Bitcoin would greatly simplify the movement of global money, it has the potential to become the first worldwide currency”
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Our vision is to bring digital assets into the mainstream by enabling efficient transactions between consumers and merchants.
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As we continue to build the Bakkt Bitcoin Futures contract, we reached a new trading record of 212 contracts traded yesterday.
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New today from @Rubinations @WSJ: “The first futures contract that will pay out in cryptocurrency rather than cash is expected to soon get regulatory approval”
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We're pleased to share that we have entered into an agreement to acquire certain assets of Rosenthal Collins Group (RCG), an independent futures commission merchant
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We've been asked why we're starting with bitcoin. Here's why:. Bitcoin today accounts for over half of total crypto market capitalization and has been deemed to be a commodity, and its derivatives are regulated in the US by the CFTC. (1/2).
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Our mission is to build the first integrated, institutional grade exchange-traded markets and custody solution for physical delivery of digital assets.
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We’re setting a new standard for institutional market quality for digital assets
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Bakkt is bringing trust to digital assets through institutional grade, regulated custody and markets. Learn more:
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While DLT and cryptocurrencies are early in their development, we are committed to expanding the use of this technology to promote choice by building a fair, efficient platform for digital assets globally.
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Question: When will trading and warehousing begin?. Answer: We expect the contract to launch on January 24, 2019, subject to regulatory approval. We’ll continue to update you on our progress and milestones.
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Two months after their debut, Bakkt Bitcoin Futures reached a record high of 4,443 contracts traded today – up over 60% from our last record-setting day. We look forward to building on this momentum as we approach the launch of the Bakkt Bitcoin Options contracts on Dec 9th.
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The Bakkt Warehouse opens today. It is regulated by the New York State Department of Financial Services (NYDFS) as a Limited Purpose Trust Company, providing customers with a Qualified Custodian of bitcoin.
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The birth of a benchmark! . The Oct ‘19 Bakkt Monthly Bitcoin Future settled at $9875, and the Bakkt Daily Bitcoin Future settled at $9790.
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The foundation that we are building our solutions for buying, selling, storing and spending digital assets is built upon the time-tested, regulated futures markets that have advanced markets ranging from coffee to gold for hundreds of years.
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With the launch of the Bakkt Bitcoin Futures contracts, we discuss why trusted infrastructure is important to the growth of digital assets.
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Bakkt uses the existing, time-tested, regulated futures market infrastructure to introduce physically delivered Bitcoin and warehousing to global markets. All aspects of the existing futures market will, for the first time, be part of physical delivery and warehousing of Bitcoin.
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Bakkt is working to address the unique requirements of regulated institutions, their clients and stakeholders, such as merchants and consumers. Our goal is to make digital assets more liquid, trusted and accessible; allowing meaningful innovation to follow.
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Given the transparency/regulation of the futures markets, futures price in a one-day physically settled bitcoin contract will serve as a price discovery contract for the market. There's no reliance on cash platforms for settlement prices for pricing daily bitcoin futures contract.
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With our solution the buying and selling of bitcoin is fully collateralized or pre-funded. Our new daily bitcoin contract will not be traded on margin, use leverage or serve to create a paper claim on a real asset.
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It's only 2:05PM ET and we’ve already traded 2,367 contracts today, beating our previous record of 1,756.
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This acquisition underlines the fact we’re not standing still as we await regulatory approval by the CFTC for the launch of regulated trading in our crypto markets
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With today’s closing of our transaction with Rosenthal Collins Group, we welcome great new team members to Bakkt. RCG’s remarkable heritage, culture and expertise will help us build out a trusted institutional infrastructure for digital assets
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Our mission is to build the first integrated, institutional grade exchange-traded markets and custody for physical delivery of digital assets. And if you want to be a part of our mission, we're looking for a Senior Full Stack Engineer:
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Custody at the Bakkt Warehouse is live. BNY Mellon helps safeguard private key material by providing geographically-distributed storage of customer assets for the Bakkt Warehouse.
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Yesterday we set a new volume record:. 6,226 physically delivered Bakkt Bitcoin Futures contracts traded at ICE Futures U.S.
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"In its first phase Bakkt will work with ICE's markets in clearing to deliver institutional-grade risk management, physical delivery, and warehouse solutions that do not exist today. (1/4).
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Previewing the debut of trading in daily and monthly physically-delivered Bitcoin on Monday, @FortuneMagazine offers a glimpse of what’s to come
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We're thrilled to announce that we will welcome @WhiteAdamL as Chief Operating Officer of Bakkt in November
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Price discovery unfolding before our eyes. On our second day of operations, totally transparent trading in monthly Bakkt Futures Contracts shows Bitcoin ending the day at $8,560 on 166 lots changing hands.
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There are numerous reports that venture investing, initial coin offerings, and corporate R&D related to blockchain and digital assets are all on track to surpass 2017 levels.
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The Bakkt Warehouse allows for the safe, secure storage of bitcoin, representing a milestone as we prepare for the launch of the Bakkt Bitcoin Daily and Monthly Futures contracts on ICE Futures U.S. (@ICE_Markets).
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PayPal, Google veteran Mike Blandina joins Bakkt as Chief Product Officer
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We just launched two new products: . • Bakkt Bitcoin Monthly Options: .The first CFTC regulated option on futures contract for bitcoin.• Bakkt Bitcoin Cash Settled Futures:.A new cash settled futures contract available on ICE Futures Singapore.
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Bakkt is designed to serve as a scalable on-ramp for institutional, merchant, and consumer participation in digital assets by promoting greater efficiency, security, and utility.
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230 Bakkt Bitcoin futures contacts went to delivery today, representing over $2m in notional value. The seamless delivery process illustrates why our physical delivery market is unique, providing regulated crypto price discovery.
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Today, @Mastercard announced a partnership with Bakkt to make it easier for #merchants, #fintechs and #banks in the U.S. to embrace and open access to a broad set of cryptocurrency solutions and services. Learn more: #cryptocurrency #loyalty #rewards.
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Interested in our approach to institutional markets for bitcoin? . Learn more:.
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Learn more about the Bakkt Warehouse and our approach to regulated, institutional-grade custody for bitcoin:.
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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).
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The Bakkt Bitcoin Monthly Futures contract had the tightest bid/offer spreads in the Oct’19 futures contract on its first day of trading on ICE Futures U.S. Standby for the first settlement price at 5p ET.
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Progress report: . Introducing our board as we build digital asset infrastructure.
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CEO Kelly Loeffler shares a launch date update and answers other frequently asked questions
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A critical link — perhaps THE critical link — in the institutional adoption of bitcoin is custody.
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Over 1,000 Bakkt Bitcoin (USD) Cash Settled Futures contracts have been traded at ICE Futures Singapore since launching earlier today.
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We appreciated the chance to participate in #ConsensusInvest and discuss the evolution of digital asset markets yesterday. We'll be sharing thoughts from the keynote with our CEO Kelly Loeffler and @ICE_Markets CEO Jeff Sprecher over the next few days
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🚨 Hot off the press 🚨. Our Bakkt Bitcoin Futures reached a new record high of 11,509 contracts traded today (each contract = 1 bitcoin) – an increase of 85% from our last record-setting day.
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It was great to see such strong interest in digital assets from the Chicago trading community during our recent event with @HesterPeirce.
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We want to share more about our strategy around unlocking the value of digital assets through consumer payments
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The right level of regulation can go hand-in-hand with, and help, new technologies like cryptocurrency.
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Key to cryptocurrency's success is a trusted market price. We are working to create a regulated form of price discovery, which could open the door for other products around crypto #consensusinvest.
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“We’re enabling institutional investors to trade digital assets on end-to-end regulated infrastructure” . –Jennifer Ilkiw on the launch of Bakkt Bitcoin Futures & Options, @CoinMarketCap Singapore #TheCapital
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Having worked in the crypto space developing advanced trading and custody solutions since 2013, it’s clear to our COO @WhiteAdamL that ironclad infrastructure and a security-first mindset are fundamental to storing digital assets
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We are collaborating to build an open platform that helps unlock the transformative potential of digital assets across global markets and commerce.
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While there are many aspects of Bakkt that we’ll continue to develop and share, our initial focus is supporting regulated institutions in serving customers in this emerging asset class.
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Listen to our CEO Kelly Loeffler and @ICE_Markets founder Jeff Sprecher discuss the institutionalization of crypto and their plans to bring digital assets to Wall Street, from @coindesk’s #ConsensusInvest . 🎙
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Wouldn’t it be great if you could open a digital wallet and view your rewards accounts, crypto, game points… converted into cash? . With the Bakkt app, you can.
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The concept of “price discovery” might sound bland for something as exciting as Bitcoin. However, trusted price formation is a fundamental part of advancing the promise of digital currencies.
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The Bakkt Bitcoin Options contract will be based on the benchmark Bakkt Monthly Bitcoin Futures contract and represents another important step in developing this asset class for institutional investors
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Today marks the 7th consecutive day that the Bakkt Bitcoin (USD) Cash Settled Futures have reached trade volumes of over 1,000 lots at ICE Futures Singapore.
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The Bakkt app aggregates cash, crypto, rewards and game points, and will enable consumers to make purchases or transfer money to another person using a variety of digital assets. Sign up at:
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“Our goal is to help increase market participation, and expand the adoption and utility of digital assets”. Our COO @WhiteAdamL, speaking at an AMA event in Hong Kong.
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Bakkt Completes $300 Million Series B Financing. Investors include Intercontinental Exchange, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital, and Pantera Capital.
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This terrific preview of “Crypto's Next Act" from @BNYMellon uses data from @GreenwichAssoc which “found that that 72% of institutional finance executives believe cryptocurrencies will have a place in the industry’s future.” . We agree 100%
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Another record day in the books for our physically delivered futures:. 15,955 Bakkt Bitcoin Futures were traded today, representing over $200M of volume and a 36% increase from our previous all-time high 📈.
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Talk about momentum!. We beat yesterday's record with 11,706 Bakkt Bitcoin Futures traded today - that's over $125MM of bitcoin.
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. We’ve set up the workflow so the bank and brokerage members do not have to take possession of crypto assets, but are still able to serve their customers in this space.” (4/4). Jeff Sprecher, ICE Chairman and CEO #ICEearnings.
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We're hiring a Director of Security Engineering. Click here to apply:
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What distinguishes us as an institutional-grade crypto custodian?. Our COO @WhiteAdamL offered insights at #FIABoca. Read coverage of Adam’s insights from @fintechfrank of @TheBlock_
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Question: What sets Bakkt apart in the digital asset space?. Answer: ⬇️
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New from @FortuneMagazine: . “Bakkt aims to turn your digital assets, like reward points, crypto, and in-game assets, into a wallet you can spend anywhere.”
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Trusted price formation is a fundamental part of advancing the promise of digital currencies.
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We're reducing payment costs for merchants, improving their bottom line. Open your @Starbucks app account settings to see our first direct integration and select "Bakkt Cash" under "Payment" to sign up for the @Bakkt Early Access Program!
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Following up on our Medium post earlier this morning, @MrShawnTully of @FortuneMagazine has an interview with Bakkt CEO Kelly Loeffler and incoming COO @WhiteAdamL. Read it here.
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