Opinion: Bakkt Bitcoin Futures Contract is the most optimistic event for institutional investors in the history of Bitcoin

According to ENW, encrypted trader Scott Melker said on Twitter today that Bakkt's news "can be said to be the most promising event in the history of bitcoin for institutional investors", these futures will require holders to "produce actual Bitcoin or accept delivery from the exchange." The new contract will require the actual purchase of BTC, which is quite different from the model used by CME, which settles the fee in cash. This means that when investors want to participate in the Bakkt market, they will create buying pressure in the bitcoin spot market. The analyst clearly refers to the scarcity of bitcoin, and analysts such as PlanB state believe that scarcity makes it so valuable. It is worth noting that Melker made these comments assuming that institutional investors will adopt the product. Although this assumption may be a microcosm of wishful thinking, there is evidence that it is not. Previously, Sam Doctor, a market research firm at Fundstrat Global Advisors, cited a discussion of Bakkt sponsorship activities in a research report, saying that “critical mass” organizations are queued to buy the product. This means that once the product finally goes on sale in September, the bitcoin market will usher in a new round of capital inflows.