BREAKING: BAKKT MOVES BACK: Bakkt Announces Delayed Launch, January 24th 2019 Targeted

In a newly posted Medium article Bakkt CEO, Kelly Loeffler announced that Bakkt would be delaying its previously slated 12/12/2018 launch.

The Medium announcement reads as such:

“Given the volume of interest in Bakkt and work required to get all of the pieces in place, we will now be targeting January 24, 2019 for our launch to ensure that our participants are ready to trade on Day 1. As is often true with product launches, there are new processes, risks and mitigants to test and re-test, and in the case of crypto, a new asset class to which these resources are being applied. So it makes sense to adjust our timeline as we work with the industry toward launch.”

“Second, as we collaborate to help develop this asset class, we are taking opportunities in our start-up phase to expand our offering. We’ll share more about some of these new features in the coming weeks but as a start, I’m pleased to announce that we have insurance for bitcoin in cold storage and are in the process of securing insurance for the warm wallet within the Bakkt Warehouse architecture. We are focused on every aspect of delivering an institutional grade crypto warehouse solution and believe this is a significant step in building confidence in this asset class.”

This delay may cause some price disruption in the crypto markets as it crosses the wires.