The Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE) and upcoming digital asset platform, Bakkt has released a list of crypto projects they are looking to list and track on a Twitter post. Per the tweet, ICE’s Data Services will be researching and tracking a total of 58 cryptocurrency projects as well as 19 fiat currencies. These projects are compiled in their ‘Cryptocurrency Data Feed’, which will provide the research team with both historical and real-time price data of the cryptocurrencies from all over the world. There are over 2000 cryptocurrency projects in the space and ICE has selected just 2.75% of the total number of cryptos to research and track. The entire list of 58 cryptocurrencies can be found in the Twitter thread seen above and the real-time analysis of these cryptos will be available on the data feeds official website………
Bakkt, the digital assets platform developed by Intercontinental Exchange – the operator of New York Stock Exchange (NYSE), has secured $182.5 million in its first round of funding. According to the official announcement, the funding round saw participation from Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures…..
As such, given the limited supply of CME and CBOE contracts, the effect of the two futures market on the actual price of Bitcoin could be minimal.
Kelly Loeffler, the CEO of Bakkt, said that cash-settled contracts have some benefits but a physically-settled Bitcoin futures contracts are necessary to strengthen the infrastructure supporting the asset.
“It’s great to have cash-settled, but there’s a need for physical delivery,” said Loeffler, emphasizing that the objective of Bakkt is to create a comfortable environment for investors to invest in digital assets.
The physical delivery of Bitcoin guaranteed by the Bakkt Bitcoin futures market will provide investors with crypto asset custody and deliver the asset to every investor in the market. Depending on the demand for the asset and the trading activity on Bakkt’s exchange, the scheduled launch of Bakkt in January could affect the supply of the dominant cryptocurrency and lead to an increase in the Bitcoin price.
Speaking at the Consensus Invest conference, Sprecher — who is also the CEO of Intercontinental Exchange (ICE) — said that when he saw headlines asking “Will digital assets survive?,” he would say that “the unequivocal answer is yes.” “We’re kind of agnostic to price,” Sprecher added.
On stage at the Consensus Invest event in New York, Sprecher was accompanied by his wife and the CEO of cryptocurrency platform Bakkt, Kelly Loeffler. Bakkt is owned by ICE and anticipates its launch early next year.
Commenting on the Bitcoin (BTC) futures contract offering, Loeffler said that “the Bakkt futures contract will help Bitcoin traders establish a trusted price. Bitcoin now trades at different prices on different exchanges, many of which are unregulated.”
The NYSE and its parent firm ICE demonstrated a proactive approach to the cryptocurrency space. In January, ICE partnered with blockchain tech company Blockstream to bring “disciplined” BTC price information to major Wall Street investors. ICE then planned to pull data from 15 major exchanges and deliver it to big financial names, including hedge funds and professional trading firms.
Later in May, ICE announced plans to offer traders contracts that eventually result in customers owning BTC. ICE reportedly “has had conversations with other financial institutions about setting up a new operation through which banks can buy a contract, known as a swap, that will end with the customer owning Bitcoin the next day — with the backing and security of the exchange.”
Just earlier today, Cointelegraph reported on the establishment of an Association for Digital Asset Markets (ADAM) to create a “code of conduct” for the cryptocurrency sector. Among ADAM’s founding members are former CEO of the NYSE Duncan Niederauer along with Mike Novogratz’s crypto merchant bank Galaxy Digital, global financial services firm BTIG, fintech firm Paxos and crypto liquidity solutions provider GSR.