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After much delay, the first "physically settled" Bitcoin futures which allow institutionally minded investors to buy or sell the digital asset at a specific price at a specific time in the future. Critical to Bakkt's infrastructure is the Bitcoin "warehouse," which stores customers' digital coins and was blessed by the CFTC.
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Bakkt wants to make mainstream institutions less skeptical of digital assets. And it is betting that this will open the door to a much larger future marketplace for them—one that serves consumers in addition to financial institutions. To that end, getting the CFTC’s blessing for its custody service is just as important as the new futures contracts.
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