i keep seeing this bit about "approval"......does bakkt need CFTC approval to operate? can anyone point me to info about this? i haven't gleaned anything from the articles i've read.

anyway, initial thoughts: no idea what the starbucks angle is. but supposedly bakkt will have physically settled futures markets, and they'll settle daily. so if investors (institutional or otherwise) are waiting for a settlement/custody solution like bakkt before investing in bitcoin---and that's a big "if"---then this could be a big deal. because the contracts are physically settled, it should have real effects on the spot market (unlike cash settled futures).