Two people familiar with the matter told Bloomberg that Nasdaq is likely to launch the futures trading in Q1 next year. The futures will be based off the prices on various spot exchanges compiled by VanEck. VanEck is already working on a Bitcoin index obtained from three of the most reputed Crypto OTC Desks which will also be used as a base for its ETF.
According to the report, Nasdaq is still working to satisfy the needs of the Commodity Futures Trading Commission (CFTC) who is the main regulator for futures products.
Nasdaq got involved in Cryptocurrencies this year by providing its market surveillance technology to Winklevi owned Gemini exchange and by acquiring the Crypto friendly Swedish exchange Cinnobar.
The New York-based exchange had first shown interest in launching a Bitcoin Futures product back in November last year, but CME and CBOE managed to launch Bitcoin futures in December before Nasdaq.
It is remarkable that Nasdaq is still planning to launch the futures despite the Crypto markets plummeting this year which suggests that there is still demand in Cryptocurrencies from their customers. Bitcoin has dropped over 82% from $20000 to less than $4000 in less than a year.
The Crypto industry has seen the most institutional players enter the market this year even though the prices have tanked significantly.
Even though the prices don’t reflect the developments happening in the space, the infrastructure is being built for the next big wave of investors to enter this space.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Circle of Games (COG)—Web3's multi-gaming platform has raised a $1mn round from Nazara, with participation…
Unconference Bali 2024, Asia’s premier Web3 event, is poised to take center stage against the…
Tradeleaf, a leading FinTech company empowering global trade through digital solutions, recently celebrated a significant…
Foundership Global Accelerator, a prominent force in the Web3 & Emerging-Tech Community boasting over 10,000…
April 16, 2024 - Condo, the world's first real-world asset (RWA) meme token, was recently…
The Partisia Blockchain Foundation, at the forefront of crafting privacy-enhancing and interoperable blockchain platforms, today…