The CEO of institutional investment focused Bitcoin futures exchange Bakkt, Kelly Loeffler, made a post on the firm’s Medium blog, saying that “race day” was approaching and that it was waiting for approval from the United States Commodity and Futures Trading Commission (CFTC).
PayPal, Google veteran Mike Blandina joins Bakkt as Chief Product Officer https://t.co/XocdST4kCg
— Bakkt (@Bakkt) April 11, 2019
Originally expected to launch in early 2019, Bakkt’s launch has been delayed several times as it waits for a nod from regulatory authorities, but a launch this year is still expected, sometime in late 2019, it is believed.
“As we work through regulatory approvals, we are mindful that the infrastructure we are building has the potential to create more opportunities for digital assets to grow in relevance and trust — by being more secure, investible and useful.
As a former marathoner, this point in time recalls the stage in the training regimen when you’re putting in long runs with your training team. Race day is approaching, and there is more work to be done. I’m proud to be going the distance with this growing team and of the culture we are building, while bringing digital assets into the mainstream economy.”
This statement comes after Loeffler describes the several hires that the company has made in recent times, in preparation for its much anticipated arrival.
Institutional Investment is Growing
Furthermore, a recent survey by Global Custodian and The Trade shows that endowment funds are a growing means of bringing institutional investment in. The survey showed that 94% of the respondents had invested in crypto initiatives over the last 12 months.