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wilslaw

Nasdaq to Launch Bitcoin Futures Market

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Nasdaq (the second largest stock exchange in the world) is planning to bring in a Bitcoin Futures Market within the first quarter of 2019.

 

It was revealed to Bloomberg that Nasdaq has been working with the Commodities and Futures Trading Commission (CFTC) to receive regulatory approval in order to function as a compliant cryptocurrency futures market operator.

 

The report says: “Nasdaq has been working to satisfy the concerns of the U.S.’s main swaps regulator, the Commodity Futures Trading Commission, before launching the contracts, the people said. The New York exchange operator, which was first reported to be eyeing Bitcoin futures last year, wants to allow trading in the first quarter of 2019, one of the people said.”

 

On January 24th, Bakkt (a crypto exchange built by ICE) is expected to launch its Bitcoin futures market. The listing of Bitcoin Futures was postponed by the company on 20th November, stating that it was due to an unexpected rise in demand for its futures product. Bakkt then said that, it needs more time to prepare the infrastructure which is to serve the entire group of Investors based in the U.S. 

 

Bakkt announced that: “ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval. The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”

 

Nasdaq's entrance into a long-lasting bear market & downtrend indicates that the company sees enough institutional demand from the U.S Market.
Depending on the delivery of Nasdaq’s plans, by Q2 2019, the cryptocurrency market could have Nasdaq and NYSE in the global market, operating Bitcoin futures markets.

 

Bakkt delivers Bitcoin to its investors physically, and as a result, could have an impact on Bitcoin supply as well as its price.
 

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