The Intercontinental Exchange (ICE), will be looking to invest $20 -$25 million back into the Bakkt Bitcoin (BTC) futures platform this upcoming year. The details were announced in a Q4 2018 ICE earnings call with equity analysts. In addition to this funding, last month, Bakkt, had raised $182.5 million from twelve investors.
With all the funding Bakkt has raised, there is still no clear date to when Bitcoin (BTC) futures will be launched. On the call, Jeff Sprecher, Chairman and Chief Executive Officer CEO stated:
So we’ll see how it goes. They’re well along in building out an infrastructure that I think you’ll see launch later this year.ICE CEO Jeff Sprecher
In a more or less optimistic view the ICE CEO called Bakkt a “moonshot bet”
So it’s a bit of a moonshot bet and it’s been organized in a manner that is very different than the way ICE typically does businesses. Bakkt has its own offices, its own management team…ICE CEO Jeff Sprecher
The launch of Bitcoin (BTC) Bakkt futures platform has been delayed since December 12th 2018. Let’s hope, with all the additional funding and extra time building its infrastructure, it all pays off!