Bakkt’s bitcoin futures will be exchange-traded on ICE Futures U.S. and
cleared on ICE Clear US, which are federally regulated by the CFTC.
Regulated exchanges differ from trading platforms, such as crypto spot
markets in many respects, including risk management, compliance and
market surveillance.


Providing a trusted ecosystem is our first objective. To do that we are setting
a higher standard, including an institutional compliance and anti-money
laundering program, settlement prices that are distinct from unregulated
spot prices, comprehensive market oversight, a guaranty fund contribution
and insurance. The trading and risk management tools that make all of this
possible have been centuries in the making.

https://medium.com/bakkt-blog/cleared-to-launch-8dfc3e6f9ed0