The long-awaited launch of the Bakkt cryptocurrency platform, focused on institutional investors and created by the operator of the New York Stock Exchange, will take place no earlier than January 24, 2019.

No 'To the moon' in December

The operator of the New York Stock Exchange (NYSE) - the Intercontinental Exchange (ICE) - officially announced that the launch of Bakkt will not take place in the previously scheduled time frame. Instead of December 12, 2018, Bakkt will start working no earlier than January 24, 2019, while ICE reserves the opportunity to postpone even this launch date as well.

“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide  additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract,” the statement reads.

The main feature of Bakkt futures is the physical delivery of bitcoins after the expiration of the contract. One contract will be equal to one bitcoin. The minimum block will be 10 lots, with the maximum block limited by 100,000 lots.

ICE announced plans to launch Bakkt in early August 2018. The project is being developed in partnership with Microsoft, Starbucks, and BCG. Bakkt will use Microsoft's cloud solutions to create an “open and regulated global digital asset ecosystem.” It will allow retail and institutional investors to trade, store, and make transactions using digital assets.

Crypto enthusiasts' hopes did not come true

Many crypto enthusiasts, including billionaire Mike Novogratz, hoped that the launch of Bakkt would attract large-scale institutional investments to the falling cryptocurrency market and make the bitcoin price start rising again, reaching and even surpassing the level of last year’s December.

There is another opinion among crypto enthusiasts. Jackson Palmer, the creator of Dogecoin, believes that the emergence of institutional money will deprive the cryptocurrency world of its main advantage which is the decentralization.