While still awaiting approval from the U.S. Commodity Trading Futures Commission for its BTC Futures product, Bakkt has made its first acquisition.
The Intercontinental Exchange (ICE) owned company has entered into a deal to acquire “certain assets” from Rosenthal Collins Group (RCG), an independent futures commission brokerage and plans to close the deal in February 2019, according to Bakkt CEO, Kelly Loeffler’s official Medium blog.
RCG has over 100 years of experience in the industry and experienced staff will be part of the acquisition which aims to improve: risk management, treasury operations, anti-money laundering and know-your-client policies.
Referencing what appears to be another missed deadline for the launch of Bakkt BTC Futures ETF, Loeffler writes: This acquisition underlines the fact we’re not standing still as we await regulatory approval by the CFTC for the launch of regulated trading in our crypto markets. The January 24, 2019 launch date will be passed again as the CFTC has still not yet started the thirty day public comment period.