No Products in the Cart
Nasdaq Set for Bitcoin Futures Launch in Q1 2018
Wall Street giants, NASDAQ, still has plans to release BTC futures and could very well do so by the first quarter of 2019, via a Bloomberg report on November 27th.
Quoting the publication; “two people familiar with the matter,” the article said momentum was building towards a potential launch early next year.
This move comes despite the negativity, not only socially, but numerically, in the crypto space. 2018 has proven to be a testing year for existing BTC futures products, but NASDAQ may see something others don’t.
According to the two unnamed sources, NASDAQ “has been working to satisfy the concerns of the U.S.’s main swaps regulator, the Commodity Futures Trading Commission [CFTC], before launching the contracts.”
Just over a year ago, the exchange first suggested it would launch futures by mid-2018, making the announcement shortly after CBOE and CME Group set the launch date for the industry’s first such futures at the end of November 2017.
The plans did not go ahead, and NASDAQ’s offering will likely now come to market later than multiple major competitors in traditional finance, including the Intercontinental Exchange’s Bakkt, which should launch physical Bitcoin futures Jan. 24.
Regulatory and other preparations had forced executives to delay the rollout by around six weeks.
The enthusiasm from NASDAQ suggests the recent volatility in Bitcoin prices does not concern Wall Street, with CME in October likewise reporting interest in them had markedly increased quarter on quarter this year.
NASDAQ, the sources added to Bloomberg today, is “betting on sustained interest” going forward.
What are your thoughts on BTC futures? For better or for worse? Let us know via your favorite social media platform!
Follow me on Twitter @EgressVoidLight