Nasdaq to Launch Bitcoin Futures Market in 2019
Despite the losses experienced by the Cryptocurrency Market over the last year, Nasdaq is planning to move ahead with its plan to list Bitcoin futures.
According to two people familiar with the matter, Nasdaq has been working to satisfy the concerns of the US’s main swaps regulator, the Commodity Futures Trading Commission, before launching the contracts.
One source further stated that Nasdaq is eyeing Q1 of 2019 as the start of trading.
Bitcoin futures briefly captivated the financial world — and drew resistance from large derivatives brokerages — when CME Group Inc. and Cboe Global Markets Inc. used an expedited self-certification process to bring their contracts to market last December.
The entrance of Nasdaq in a long-lasting bear market and downtrend suggests that the company sees sufficient institutional demand from the U.S. market. A conglomerate in the size of Nasdaq does not allocate a large portion of its resources to develop an infrastructure for a new asset class unless it is certain that the demand for it will grow over time.
Depending on the delivery of Nasdaq’s plans, by the second quarter of 2019, the cryptocurrency market could have Nasdaq and NYSE, two of the largest stock exchanges, in the global market operating Bitcoin futures markets.
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