The Intercontinental Exchange (ICE), which operates the New York Stock Exchange (NYSE), has postponed the Bakkt Bitcoin futures launch until January 2019.

The Fortune 500 company said its Bakkt trading platform now targets a January 24, 2019 launch date. This is still subject to regulatory approval.

Kelly Loeffler, CEO of Bakkt, said in a Medium blog, “Given the volume of interest and the work required, we are targeting January 24, 2019. This will ensure participants are ready to trade on Day 1.”

The original launch date was December 12, 2018. Loeffler explained the delay was needed to test new processes and manage risks. She added that crypto is a new asset class, requiring careful preparation. Adjusting the timeline makes sense as they work with the industry toward launch.

Bakkt Launches Regulated Crypto Futures

Recall that back in August, ICE unveiled Bakkt. It leverages Microsoft cloud to create a platform that enables consumers and institutions to buy, sell, store, and spend digital assets on a seamless global network. Besides Microsoft, Starbucks and the Boston Consulting Group are also partners working with Bakkt.

In October, Bakkt announced it had begun testing and onboarding members and customers for November. Warehousing and trading were expected to start in December.

Loeffler added that Bakkt is working closely with the US Commodity Futures Trading Commission (CFTC). The CFTC is reviewing Bakkt’s warehouse and futures contracts. She said these products mark a critical shift in crypto markets. They aim to make crypto more accessible, useful, and regulated.

In addition to the Bakkt Bitcoin futures launch — the physically-settled Bitcoin futures expected soon — Loeffler hinted that the platform may offer more. As they are in the startup phase, they are exploring ways to expand their offerings. Most features will roll out in the coming weeks.

In conclusion

The operator of the New York Stock Exchange has shifted the launch date of its Bitcoin futures platform to January 2019. According to the CEO of Bakkt, this shift was necessitated because of the increasing volume of interest in the platform and the need to “get all of the pieces in place.”

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