The regulatory go-ahead propels Bakkt into the burgeoning institutional services market for crypto, currently witnessing $1 billion/month in new crypto deposits.
Accordingly, they intend to be the first company to offer physically-settled futures contracts on the market.
Bakkt is positioning itself for the institutional market in other ways as well.
Last week, the company launched an institutional Bitcoin custody service with a $125 million insurance policy.
If successful, Bakkt will dramatically increase institutional exposure to bitcoin and greatly improve crypto’s ability to go mainstream.