Beating Bakkt, LedgerX Is First to Launch 'Physical' Bitcoin Futures in US

Jul 31, 2019😶Neutral

Revealed exclusively to CoinDesk, LedgerX has officially launched the first physically-settled bitcoin futures contracts in the U.S., beating the Intercontinental Exchange's Bakkt and TD Ameritrade-backed ErisX to the punch.

Bitcoin futures have drawn attention in the U.S. since at least 2017, when CME and Cboe announced they were launching cash-settled contracts.

ErisX, like LedgerX, has received the necessary CFTC approvals, though it has not announced a timeline for launching its futures contracts.

While LedgerX is not the first bitcoin futures provider in the U.S., it is the first to offer physical futures, meaning customers receive the actual bitcoin they bet on when the contracts expire, rather than the cash equivalent.

Any U.S. resident with a government-issued I.D. can now trade futures contracts for real bitcoin.

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