23 SEPTEMBER – BAKKT – BITCOIN FUTURES LAUNCH DATE
Bitcoin has several important dates in the next coming months which should be of interest to anyone in the crypto world. Another bull run could just be around the corner depending on how these works out, we could well see uptakes and renewed confidence , So what are we expecting ?
last week news had it that after a regulatory quest which seemed to continue forever, Bakkt will launch its physically delivered Bitcoin futures product on 23rd September finally after a long wait.
last May 2019, the company got so annoyed at the poor attention by the Commodity Futures Trading Commission (CFTC) that it self-certified. This gave the CFTC 10 days to lift an objection, which was too much to ask for. The New York Department of Financial Services (NYDFS) recently came up with the regulatory goods for the custodial solution, so all systems are now ready to go.
Bakkt makes a play for Blockchain Week news coverage by self-certifying their bitcoin futures with the CFTC, a good step forward.— Jake Chervinsky (@jchervinsky) May 13, 2019
But, they still can't launch until NYDFS approves their warehouse, which could take a while.
They predict July 2019. I'll believe it when I see it. https://t.co/a5ctocUbhA
Bitcoin with this update will now opens the door to institutional investors and pave way for cryptocurrency industry legitimization in the US.
VANECK / BITWISE BITCOIN ETF RULINGS – 13/18 October a must wait
The Exchange Commission along side with the Securities is another regulatory body that could hardly get negative feedback in its decisions. It has been invariably held back decisions on several Bitcoin exchange traded funds (ETFs) for more than a year. Some gave up while trying, but two have persevered knowing that, eventually, the SEC could delay no longer.
15/ To be fair, the fact that the SEC delayed Bitwise & stayed silent on VanEck could mean nothing at all.— Jake Chervinsky (@jchervinsky) May 19, 2019
Maybe SEC staff just hasn't had time to finish the VanEck delay order yet. These things take time & there's no reason why the SEC has to issue ETF delays at once.
eventually, this month we saw those final delays, meaning the final decisions on the Bitwise and VanEck ETFs must happen in October. Bitwise is due first, with VanEck following less than a week later, although the delays have always been announced at the same time.
Well, this doesn’t mean that either fund will be granted, atleast one of them could be approved which removes another hurdle for institutional investors to move into the space.
MT. GOX REHABILITATION PLAN – 28 OCTOBER
Another long running catastrophe in the Bitcoin world is the fallout from the 2014 hack and collapse of the MT. Gox exchange. Come 28 October, this too will see some form of resolution, as this is the final date for resolution plans to be submitted.
Every time we have seemed to be nearing resolution of this, another party will come out of the woodwork, with an often false claim on the funds. The most recent claim was from CoinLab, which rather insolently suggested that it had suffered damages of $15 billion.
#bitcoin $btc #bitcoincash $bch— ๑ THE CRYPTO PANDA ๑ (@PandaofBinance) March 21, 2019
A decision for civil rehabilitation has been reached for Mt Gox victims. 140,000 bitcoin and 140,000 bitcoin cash will be returned to their respective owners
Hope these victims are HODLERS pic.twitter.com/dq5e4ZOtsi
Seeing the victims of this plots finally gets a payout, will go a long way towards building confidence in an industry which often seems disturbed by high profile hacks. By the end of October we should at least have a direction for this.