Cryptocurrency markets have stunned many traders by jumping forward amid what many thought were bad news from the SEC. Less than 24 hours ago, the US regulatory authority said it had initiated a process to review the modification of the proposed rule put forward by the CBOE-sponsored Bitcoin ETF. This, in turn, meant that they would not make a decision on September 30th and that they would rather push the decision down further in the year. The exact date was not announced, but the cryptographic markets earned a massive $ 15 billion at the current level of market capitalization of $ 217.7 billion.
Because everyone is waiting for Bakkt
With SEC further pushing the discussion down into the year, all eyes are on Bakkt, which is scheduled for launch in November. The company will push for the traditional adoption of Bitcoin and other digital assets as investment options.
The company continues to explain these plans through a tweet that stated the following :
Bakkt uses the regulated, tested and tested market infrastructure of the future to introduce Bitcoins and storage physically delivered to global markets All aspects of the existing futures market will be for the first time part of the physical delivery and deposit of Bitcoin
. working on regulatory issues everyone has:
Bakkt is working to meet the unique requirements of regulated institutions, their customers and stakeholders, such as traders and consumers. Our goal is to make digital assets more liquid, reliable and accessible; allowing significant innovation to follow.
More from Bakkt's CEO, Kelly Loeffler
The CEO of the companies, has updated the investor community via the Bakkt media page. His most recent post pointed out that their goal is to serve their customers first in providing investment solutions in the emerging asset class of digital assets. Bakkt will then proceed to do so through the existing infrastructure and will provide the additional security necessary for that class of activity.
Adding all to the SEC that is still doing the due diligence with regards to the CBOE sponsored the Bitcoin ETF, the launch of the Bakkt Investment company is the next big thing in the crypt versa since all forecasts are for a SEC decision at the end of this year, or at the start of the next year.