Bitcoin (BTC) ETF Might Be Almost A Reality With The Bakkt, Says CNBC’s Brian Kelly

Intercontinental Exchange (ICE) – announced that they would be partnering with Microsoft, BCG, Starbucks and other firms, to launch a market and ecosystem to list physically settled Bitcoin futures contracts and for a new company to push Bitcoin and other digital assets towards becoming mainstream financial asset. This new company will be known as Bakkt.

Brian Kelly says “Starbucks all-in on cryptocurrency” could be the biggest news of the year for bitcoin

Because it paves the way for a bitcoin ETF, according to BK Capital Management founder Brian Kelly.

Starbucks, the Intercontinental Exchange (ICE), Microsoft and BCG, among others, announced on Friday they are working to launch a new company called Bakkt. Along with enabling consumers to use bitcoin and other cryptocurrencies at Starbucks, Bakkt will leverage Microsoft cloud to create an open and regulated, digital asset ecosystem, ICE announced on Friday. Bakkt is launching this November, and plans to make Bitcoin a mainstream currency and a stable investment vehicle.

Here is the Video: https://www.cnbc.com/video/2018/08/03/the-biggest-bitcoin-news-of-the-year-says-brian-kelly.html

“This is huge news,” said Kelly, who also manages blockchain-focused BKCM Digital Asset Fund.

“They’re talking about getting this into your 401(K). They’re talking about in your…. Fidelity or TD Ameritrade account, you’re going to be able to buy a bitcoin ETF, a bitcoin mutual fund. It expands the universe,” Kelly said.

“My conclusion is the crypto market is completely missing this. Perhaps the market in general is missing this. This is very, very big news,” he said.

 

Bitcoin last traded around $7,000, according to Coinbase data.

Tags: Technology, Cryptocurrencies, bitcoin, bitcoin etf, bitcoin starbucks, bitcoin crypto market, etf

 

Mohsen Daemi
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