On 22 September, the operator of the New York Stock Exchange launched the Bakkt crypto trading platform, which offers bitcoin futures with physical delivery.

The Bakkt cryptocurrency trading platform, established by the operator of the New York Stock Exchange (NYSE) InterContinental Exchange (ICE), launched bitcoin futures trading. The key difference between bitcoin futures of Bakkt and bitcoin futures of other platforms is the fact that Bakkt's futures suppose the physical delivery of the asset after contracts expire, while on other platforms, for example, the Chicago Mercantile Exchange CME, contracts are executed in dollar terms.

The first deal on Bakkt was closed on 22 September at 8:02 pm ET at $10,115, Bakkt tweeted. By the morning of 23 September, the bitcoin contracts trading volume amounted to 18 BTC.

Despite Bakkt launch, the bitcoin price fell below $10,000 on 23 September. The lack of any positive effect from the launch of Bakkt may be due to the fact that those who are interested in trading cryptocurrencies are already present in this market, the cryptotrader under the nickname Cantering Clark suggested.

Nevertheless, the appearance of such a product pegged to the bitcoin exchange rate will have a positive effect on the crypto industry anyway, some traders believe.

“The move to centralize and create a scalable infrastructure for crypto asset investment” is “a positive step,” said James Putra, head of product strategy at TradeStation Crypto, in a conversation with Bloomberg. Because the ICE contracts will deliver actual bitcoin, an investor can potentially profit first from the rise in the futures price and then take possession of the coins, he said. “I can capture both pieces and continue to ride that upward.”