Nasdaq has confirmed the rumors about launching Bitcoin Futures in 2019.
Blockmanity had reported about the rumors on the launch of Bitcoin Futures by Nasdaq a few days back. The second largest exchange after NYSE has now confirmed the launch of Bitcoin Futures contracts in the first half of 2019.
Joseph Christinat, Vice President of Nasdaq’s media team told Daily Express:
“Bitcoin Futures will be listed and it should launch in the first half of next year – we’re just waiting for the go-ahead from the CFTC but there’s been enough work put into this to make that academic. “We’ve seen plenty of speculation and rumors about what we might be doing, but no one has thought to come to us and ask if we can confirm it, so, here you go – we’re doing this, and it’s happening.”
Nasdaq has been seriously working on its Crypto trading platform since 2017, even though the Crypto market has turned bearish with Bitcoin dropping from $20,000 in December last year to as low as $35 this year, it hasn’t stopped Nasdaq from deciding to launch the product next year.
The second largest exchange in the world is also working closely with VanEck and others to create better tools and services for the Crypto industry.
Even though institutionalization of Cryptocurrencies goes against the Ethos why they were created, it will help the asset class to gain more mainstream adoption. Not only will it help standardize metrics like price discovery but also increase the liquidity of the asset class which is beneficial to the entire industry.
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