Nasdaq May Soon Launch Bitcoin Futures in 2019

Anestiev

Anestiev

Information reaching Ethereum World News earlier today alluded to the rumor that Nasdaq, one of the world's largest financial markets, has begun work on an in-house Bitcoin (BTC) futures contract.

The Nasdaq is now making sure its Bitcoin futures offering satisfies regulations from the Commodity Futures Trading Commission. The company that operates the New York Exchange has been said to be planning on entering the Bitcoin Futures market since past year and may now be readying itself to take the "bull by the horns" come Q1 2019.

That partnership was officially unveiled during CoinDesk's Consensus: Invest conference, when Gabor Gurbacs - VanEck's director of digital asset strategy - announced the move to "bring a regulated crypto 2.0 futures-type contract" to the market.

The news of Nasdaq introducing Bitcoin Futures first hit the market in 2017 when Bitcoin was trading at $11,000 and it was said to be released in the second quarter of 2018.

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"The exchange was weighing how to distinguish its plans from contracts already offered by competitors", said CEO Adena Friedman, with Bloomberg now claiming that "The Nasdaq futures will be based off the Bitcoin's price on numerous spot exchanges, as compiled by VanEck Associates Corp".

It has not been what you would call a roaring success.Institutional players have stayed on the Bitcoin sidelines, and as long as they are, the futures contracts are likely not to generate substantial amounts of volume.
Bitcoin, the flagship cryptocurrency, had been trading at an all-time high of almost $20,000 (in Dec 2017), however, its price has dropped considerably since then - as it's now trading below $4,000 mark - according to CryptoCompare data. I'm not going to comment on timing.

As it stands, the Commodity Futures Trading Commission (CFTC) has approved two bitcoin futures products to date - one operated by the Chicago Board Options Exchange in partnership with Gemini Exchange and the other operated by the Chicago Mercantile Exchange in partnership with Crypto Facilities.

VanEck has also recently been trying to win approval from the Securities and Exchange Commission for an ETF, something that has been much-discussed in 2018.

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