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Cryptocurrency exchange Bakkt, which is majority-owned by Intercontinental Exchange (ICE), is in advanced talks to go public via a merger with a special purpose acquisition company (SPAC).

If Bakkt can get a New York license the CFTC may allow it to issue its futures by self-certification and sidestep the regulator's requirements that client funds are deposited at a bank or trust company, although it would still need CFTC approval for its wider operations.

"Bakkt was first announced in early August as a bitcoin trading and custody platform, but its launch has been repeatedly delayed It has submitted a proposal to the CFTC, asking for an exemption which would allow it to custody the bitcoin it uses to settle its futures contracts. While CFTC Commissioners were reportedly given the proposal in December, it now appears to be back before CFTC staffers. It is unclear if or when the proposal may be published for a mandatory 30-day public review period. Until the review period has ended - and CFTC Commissioners have voted to approve Bakkt's exemption - the exchange cannot launch its one-day physically-settled futures contract."

Institutional crypto trading platform Bakkt has аcquired a crypto custodian service Digital Asset Custody Company, and filed an application with the New York Department of Financial Services to operate as a trust company.

Bakkt has acquired crypto custodian, Digital Asset Custody Company, and partnered with custodial bank, BNY Mellon. These developments are part of its strategy to provide a fully regulated, end-to-end crypto asset custody and trading ecosystem for institutional investors.

DACC offers native support for 13 blockchains, as well as more than 100 assets. The DACC CEO and other team members will be assimilated into the Bakkt operational structure.

Crypto trading platform Bakkt's Bakkt Warehouse will begin offering storage of customer's Bitcoin on September 6, weeks before the scheduled launch of its platform for daily and monthly crypto futures in the United States on Sept. 23.

ICE subsidiary Bakkt has acquired a New York state trust charter through the New York State Department of Financial Services, and claimed that the CFTC has green lighted it to begin offering its physically-settled bitcoin futures contracts on September 23.

"The ICE/Bakkt initiative will prove to be a fascinating case study in inter-exchange competition. Crypto is sufficiently distinctive, and the double-barrel ICE initiative sufficiently innovative, that the traditional betting form (go with the incumbent) could well fail."

The physically delivered Bitcoin futures by ICE-backed Bakkt has been finally launched. However, in the first 30 minutes of listing only 3 BTC has been traded, although after about 12 hours 28 BTC had been traded.

Intercontinental Exchange's (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launch on Sept. 22.

While physical delivery of Bitcoin upon contract expiry has significantly increased, other metrics for Bakkt in March - the volume of traded contracts and open interest - are both significantly down.

The Chicago Mercantile Exchange traded just three bitcoin options contracts on March 18, with a notional amount of 15 bitcoin, the CME's lowest daily volume since the contracts went live on January 13. Meanwhile, Bakkt has seen no options trading activity since February 27.

Bakkt announced on Oct. 24 that it will be launching the first regulated options contract for Bitcoin (BTC) futures on Dec. 9.

Bakkt is working on developing an app to let consumers use digital assets when purchasing goods from merchants.

Bitcoin (BTC) futures daily volumes on digital asset platform Bakkt have hit a new all-time high, with 1,741 futures traded on Nov. 9.

Bitcoin futures market Bakkt intends to expand from its current physically-settled offerings to cash-settled futures before 2020.

Three months after launching its physically settled bitcoin futures product, the Intercontinental Exchange's Bakkt has gone live with its bitcoin options and cash-settled futures contracts.

Bakkt confirmed its forthcoming launch of a cash-settled Bitcoin futures contract that will be listed on ICE Futures Singapore as of Dec. 9.

Bakkt records over 50% surge in open interest, launching the options on Bitcoin futures contracts today along with cash-settled Bitcoin futures.