Bakkt will be “huge catalyst for institutional participation in crypto market”

Bakkt’s eagerly anticipated Bitcoin futures contracts will launch in the current quarter. That’s according to MD and quant strategist at Fundstrat Global Advisors, Sam Doctor.

A Twitter post, which includes a summary of Fundstrat’s takeaways from the recent Bakkt Digital Asset Summit, notes that this will follow on from tests, set to start this month.

It also states that “there appears to be a critical mass of adopters ready to come onboard on day one of the Bakkt launch, with the sales team gaining traction among brokers, market makers, prop trading desks and liquidity providers.”

During the Bakkt Digital Asset Summit, Commodities Futures Trading Commission (CFTC) commissioner Dawn Stump reportedly stated that no current cryptocurrency could threaten financial stability and that there is growing demand and interest for Bitcoin futures from the public.

Meanwhile, Chief Information Officer of CIO of BlockTower Capital, Ari Paul, declared that retail adoption will be enormous once a killer app/UI makes crypto on-ramps as safe, reliable and easy to use as PayPal.

Check out the full post below.