<h4>Quick Take</h4> <ul> <li>Exchanges like Bakkt are gearing up to launch physically delivered bitcoin future contracts, but some of their largest prospective clients admit they still don’t have permission to trade them</li> <li>Physically delivered bitcoin futures is being hailed as the next big “move” for crypto, allowing traders to settle contracts in bitcoin rather than USD</li> <li>However, it may take time to see demand from the major institutions at which Bakkt was originally pitched</li> </ul>