Bakkt is scheduled to begin testing its bitcoin futures contracts Monday, more than six months after its originally planned launch date.
CME's bitcoin futures product is increasing in popularity, with June setting a record for open interest amid a surge of new account sign-ups.
Bakkt will begin user testing of its bitcoin futures contracts on July 22, revealing new contract specifications on Thursday.
May was the best month for derivatives giant CME's bitcoin futures volume since its 2017 launch
CME Bitcoin Futures have hit a record high in open interest at 5,190, up seven percent on the week prior, data from the CFTC shows.
Bakkt announced Monday it would be testing its bitcoin futures products in July after "working closely" with the CFTC.
ICE CEO Jeffrey Sprecher says crypto winter has been "helpful" to bitcoin futures exchange Bakkt by letting it buy firms on the cheap.
Speaking generally about crypto regulation, the CFTC’s chairman offered clues about the delay at bitcoin futures exchange Bakkt.
Crypto derivatives provider LedgerX plans to become the first U.S. firm to offer physically settled bitcoin futures contracts.
Bitcoin futures platform Bakkt has brought Google Wallet and PayPal vet Mike Blandina as its chief product officer.