Nasdaq planning to list Bitcoin futures
In the wake of Bitcoin’s ongoing plunge since last year, investors can rest assured knowing Nasdaq intends to launch their own Bitcoin futures market. The world’s second largest stock exchange could have the market running already by the first quarter of 2019. A report released by Bloomberg states that despite Bitcoin’s price drop, Nasdaq is working with the Commodity Futures Trading Commission (CFTC) to fine-tune their exchange.
Additionally, the New York Stock Exchange’s parent company, ICE, announced plans to launch their own futures exchange. ICE’s version which was due to be launched this year has been reportedly delayed due to “an increase in demand.” ICE will take more time to prepare their program for the influx in customers and announced a release scheduled for January 24th, 2019.
Interestingly, the Securities and Exchange Commission (SEC) has been known for consistently denying the use of exchange-traded funds (ETFs), expressing their concern that the size of a cryptocurrency futures market, such as Bitcoin, cannot meet requirements of larger scale investors. However, Nasdaq’s interest in the market signifies that despite its current value, the demand for cryptocurrency still runs strong. If all goes according to plan, both Nasdaq and NYSE will be running Bitcoin futures markets sometime next year. According to financial analysts, given that two of the biggest exchanges have expressed their interest in Bitcoin despite concerns by the SEC, the popularity and value of the currently struggling market will inevitably increase.