In a piece on CNBC attributed to Ryan Browne, a new group of contracts that will appear in the New York Stock Exchange, issued by the owner the Intercontinental Exchange, will pay out in Bitcoin. The first Bakkt Bitcoin Futures trade was executed at 8:20 pm ET at the price of $10,115, and the futures are physically deliverable and will be paid out in Bitcoin. The CME Group contract that was initiated in 2017 pays out in cash, so these contracts are different.
Note that physical settlement exists in cattle, oil and metal markets and of course others. We have talked about legitimacy on this platform and the most intriguing point of this article is that this contact is federally regulated making this a big step in the evolution of Bitcoin and digital currencies.