ICE, the company behind Bakkt, has announced a new list of coins that will be added to its Cryptocurrency Data Feed. Bakkt is a long-awaited and often-delayed Bitcoin futures trading platform, and in the absence of any new information, news about ICE’s data feed has attracted plenty of attention.
Over Sixty Cryptocurrencies
ICE says that its data feed will now include over sixty cryptocurrencies, many of which are top-ranking coins such as Bitcoin, Ethereum, Litecoin, and Ripple. Several other altcoins have also been added to the feed, as well as stablecoins and exchange-related tokens. The full list of cryptocurrencies can be seen on ICE’s website or on Twitter.
It is not clear if the listed cryptocurrencies will be integrated with Bakkt. Bakkt is specifically a trading platform that will offer Bitcoin-settled crypto future contracts. ICE’s data feed simply provides market information and can be used separately. The two could be used together, though, as the feed does include information on crypto futures.
Who Can Access the Data?
ICE’s data feed allows investors to access very comprehensive information about the crypto market. However, the company’s data feed is targeted at institutions, not at the general public. That means that ICE provides very extensive data, at least compared to freely available market aggregators such as CoinMarketCap.
According to a video from ICE, its crypto data feed can be used by hedge fund managers, index providers, and portfolio managers, among others. These customers will benefit from greater efficiency, more insight, and better transparency. Presumably, individual clients of these institutional users will also benefit—just not in a direct way.
No News On Bakkt
Although ICE’s data feed is thriving, Bakkt itself is still in limbo. ICE has announced delays multiple times, and Bakkt is now long overdue by any measure. Originally, Bakkt was set to launch on December 12, 2018, but it was soon rescheduled for January 24, 2019. Bakkt then suffered another delay in January, which put off its release indefinitely.
Recent reports from Coindesk suggest that regulatory backlogs stemming from the government shutdown are to blame for the most recent delays. The site notes that Bakkt’s novel trading model is not helping matters, either. Nevertheless, news about ICE’s data feed has made many people hopeful that Bakkt is drawing nearer.