Bakkt, an ICE Futures U.S. and ICE Clear U.S.backed cryptocurrency exchange is schedule to launch in November, providing the first physically delivered bitcoin futures and warehouse currently being reviewed by regulators. The goal is to bring a regulated framework that institutional investors will have the trust in to enter the crypto ecosystem. Instead of finding loopholes or changing the current regulations to accommodate cryptocurrencies, the firm will try to integrate themselves with the system already established.
Bakkt will not be the only one on the seen though as TD Ameritrade, an online broker for online stock trading, long-term investing, and retirement planning, is one of the firms backing a new crypto brokerage name ErisX. The new exchange will allow clients to trade cryptocurrencies offering physically delivered futures contracts for Bitcoin, Bitcoin Cash, Ethereum and Litecoin and derivatives of virtual coins.
At the helm of the project, former Head of Quantitative Execution at Citigroup, Thomas Chippas, says that they hope to launch ErisX in the second quarter of 2019. Chippas opens up about the current trend and interest in the nascent crypto sector, and that a a regulated exchange and clearing house will draw in more people into the ecosystem.
Bakkt and ErisX will both tie into the current regulatory framework to provide a secure environment in the cryptocurrency space.