Nasdaq plans to launch bitcoin futures in early 2019

29 November, 2018, 17:23 | Author: Brooke Harris
  • Nasdaq May Soon Launch Bitcoin Futures in 2019

NSADAQ says its futures will be "based off the Bitcoin's price on numerous spot exchanges". Once entering a contract, the participants must buy or sell at the agreed-upon price, regardless of what the market price is at the time of the contract execution date.

The two major futures exchanges in the US, the Cboe and CME, have offered bitcoin futures to investors since December of 2017. Bitcoin futures volumes at the CME hit their lowest levels this fall.

The exchange operator has been working alongside the Commodity Futures Trading Commission (CFTC), primary swaps regulator in the U.S., to rest to peace some issue before launching the contracts.

Back in January, Nasdaq Chief Executive Officer Adena Friedman said the exchange was weighing how to distinguish its plans from contracts already offered by competitors.

The price of Bitcoin went below $3,500 this week, the first time in 14 months, which is 80 percent down from its peak of December 2017 and cast a shadow over hundreds of cryptocurrency startups that came up over the last two years. However, the report that the exchange is still pursuing the project is a sign that they believe there is still a demand. CBOE futures underlying is not an actual coin, which is a joke.

Bloomberg reports Nasdaq has been working closely with the Commodities Futures Trading Commission (CFTC), to receive regulatory approval for their proposed Bitcoin futures launch in the first quarter of 2019.

What's the big deal with Bitcoin Futures Anyways?

Cdn auto industry in peril
GM also says it will reduce salaried and salaried contract staff by 15 per cent, which includes 25 per cent fewer executives. Barra said. "Oshawa built GM", French added in a tweet. "The least they could do is continue to invest in us".

Depending on when Nasdaq's plans are delivered, by Q2 of 2019, the virtual currency market could have NYSE and Nasdaq, both of which are two of the largest exchanges, in the market facilitating Bitcoin futures.

Are you hopeful for the future of cryptocurrency markets in 2019?

"Despite the obvious recent changeability of the market, the underlying value of crypto remains blockchain technology and its capacity to solve real-world problems". Regardless of high hopes that BTC futures would introduce a new epoch of institutional digital currency investment, trading in them has been unpretentious and the crypto has dropped from nearly $20,000 to just above $3,500.

In its order rejecting the latest round of bitcoin ETFs, the SEC said the applicants failed to demonstrate how they could prevent fraud and market manipulation.

Echoing her thoughts, @ICE_Markets CEO/founder Jeffrey Sprecher notes that "we're the largest exchange operator in the world and we price all kinds of things on our exchanges ... we're kind of agnostic on price".

Will the entry of institutional investors set the next Bitcoin rally?


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