https://www.wsj.com/articles/nyses-owner-launches-bitcoin-firm-futures-contracts-1533315263 ICE’s Bakkt will offer platform to buy, sell, store and spend digital currencies ICE’s futures will differ from the contracts by CME Group and Cboe in that they will be physically delivered, meaning holders can get actual bitcoin, and not cash, upon settlement. By Inyoung Hwang Updated Aug. 3, 2018 1:04 p.m. ET The owner of the New York Stock Exchange said it is launching a new bitcoin company and futures contracts based on the digital currency. Intercontinental Exchange Inc., ICE -0.11% or ICE, plans to create a new company called Bakkt (pronounced “backed”), which will offer a platform that allows customers to buy, sell, store and spend digital currencies, according to a statement Friday. The exchange also said it would launch one-day, physically delivered bitcoin futures in November, pending regulatory approval from the U.S. Commodity Futures Trading Commission. ICE is one of the world’s biggest exchange operators and a dominant player in the futures market—home to the Brent oil futures contract. Following an extraordinary run-up in bitcoin prices last year, CME Group Inc., CME 0.37%the world’s largest exchange company, and Cboe Global Markets Inc., CBOE -1.22% operator of the biggest U.S. options exchange, both launched futures on the cryptocurrency in December. The moves were seen as a big step forward for the once-fringe asset gaining wider acceptance on Wall Street. ICE’s futures will differ from the contracts by CME and Cboe in that they will be physically delivered, meaning holders can get actual bitcoin, and not cash, upon settlement. The virtual currency bitcoin continues surging to new highs as a frenzy of investors get in on the action. WSJ's Paul Vigna explains what you need to know, and how to invest should you want to join the mania. Photo: Alexander Hotz/The Wall Street Journal. Bakkt, which plans to announce more details in coming weeks, is working with BCG, MicrosoftCorp. and Starbucks Corp. to create its platform. Maria Smith, vice president of partnerships and payments for Starbucks, said in the statement that the coffee company will play a pivotal role in developing trusted and regulated ways for consumers to convert digital assets into U.S. dollars for use at Starbucks. “Starbucks is committed to innovation for expanding payment options for our customers,” Ms. Smith said. Even after intense interest world-wide last year, bitcoin hasn’t gained traction as a form of payment. ICE has taken a more wait-and-see approach to cryptocurrencies even as its rivals have rushed to launch bitcoin futures. In December, Chief Executive Jeffrey Sprecher expressed doubts about the wisdom of being the first U.S. exchange to offer bitcoin futures, citing issues like the few sellers in the market at the time and the lack of transparency in digital-currency exchanges. ICE has been involved in cryptocurrencies through its investment in Coinbase, a San Francisco-based provider of “wallet” services that is one of the leading cryptocurrency businesses. In January, ICE also announced it was teaming up with startup Blockstream to start a service that would bring bitcoin data to hedge funds and other professional trading firms. Bakkt will be led by Kelly Loeffler, who was until recently ICE’s longtime head of communications. She is married to Mr. Sprecher. The Atlanta-based company announced her departure in late March.