According to AMBCrypto, Bakkt plans to launch a physical settlement of the Bitcoin futures contract on September 23. AMBCrypto issued a statement saying that it has the following effects: 1. Bitcoin market. The launch of Bakkt will have a major impact on the cryptocurrency market, especially Bitcoin. Considering that the company established by the parent company of the New York Stock Exchange will be fully regulated and will bring years of experience in operating regulated exchanges, it will become an institutional investment that has been waiting to participate in the market but has not participated due to market manipulation concerns. The key portal for the person. 2. Price formation. Bakkt will settle its bitcoin futures contract in Bitcoin after the contract expires, rather than in cash, as opposed to the CME futures market. This would mean that the price of Bitcoin in the spot market would not affect futures contracts, thus completely eliminating concerns about price manipulation. 3. Security. The launch of a warehousing system regulated by the US federal government means that investors will no longer have to worry about the safety of their tokens. In addition to price, Bakkt will also provide its customers with a regulated platform to protect their cryptocurrencies from hacking and theft. 4. Supervision. Since Bakkt is a regulated platform, it eliminates most of the concerns raised by US regulators. One of the main problems that it will address is price manipulation, which the SEC continues to emphasize during the rejection of the ETF. As many believe, the launch of Bakkt will have a major impact on the SEC's decision to approve Bitcoin ETFs.