NASDAQ Will Launch BTC Future Contracts

Dawid Paluch
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The second largest stock exchange in the world, Nasdaq is still planning the launch of Bitcoin future contracts early next year. The exchange has also partnered with VanEck to bring other cryptocurrency products.

CBOE, the largest U.S. options exchange, allowed its clients to trade Bitcoin contracts in December, last year. Now, a bigger player is going to introduce the most popular cryptocurrency to its platform.

First: Bitcoin future contracts

According to the Bloomberg report, the exchange will launch Bitcoin future contracts despite the cryptocurrency’s drop in 2018. The platform will list the contracts probably in the first quarter of 2019.

Right now, Nasdaq is working with the Commodity Futures Trading Commission (CFTC) through regulatory issues.

According to the report:

“The Nasdaq futures will be based off the Bitcoin’s price on numerous spot exchanges, as compiled by VanEck Associates Corp.”

Officially, the exchange declined to comment on that matter.

Next: other contracts

Nasdaq is partnering with VanEck, an investment management company, to bring new cryptocurrency financial products to the stock market.

Gabor Gurbacs, VanEck’s director of digital assets strategy, called the move as ‘bringing a regulated crypto 2.0 futures-type contracts’. He said:

“What I’d like to point out is we ran a few extra miles working with the [Commodity Futures Trading Commission] to bring about new standards for custody and surveillance.”

Nasdaq isn’t the only exchange trying to incorporate Bitcoin recently. Intercontinental Exchange, the owner of New York Stock Exchange (NYSE), said last week, that the biggest exchange in the world would launch its own contracts on 24th January.

Jeff Sprecher, chairman of the NYSE, said that Bitcoin and other digital assets are here to stay and should be on the exchange.

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