ICE Pushes for Bakkt Bitcoin Custody License — CFTC Approval Imminent?
Bakkt is pursuing self-certification as a licensed bitcoin custodian, as it looks to obtain CFTC approval for the launch of its physically backed BTC futures contracts.
The Intercontinental Exchange (ICE) is reportedly taking steps to ensure approval from the United States Commodity Futures Trading Commission (CFTC) for its bitcoin futures contracts platform — Bakkt. ICE, the operator of the New York Stock Exchange (NYSE), recently acquired a cryptocurrency custodial service and are mulling plans to register Bakkt as a licensed trust in the state of New York.
If successful, these latest moves would see Bakkt become a registered bitcoin (BTC) custody platform. Recent reports also indicate that the company is in partnership with Bank of New York (BNY) Mellon for the storage of cryptocurrency security keys.