The world’s second-largest stock exchange in the world, the Nasdaq exchange, has officially confirmed its plans to launch Bitcoin futures in 2019. Late last week, unofficial reports surfaced of the exchange launching these plans, first reported by Bloomberg.
Joseph Christinat, VP of Nasdaq’s media team, spoke to the UK’s daily tabloid The Express yesterday and confirmed the plans. The VP states that these futures will be listed and launched in the first half of 2019—no official date has been given at this time.
Nasdaq Bitcoin Futures
The launch still remains subject to approval from the US Commodity Futures Trading Commission (CFTC).
Christinat told The Express:
“We’ve put a hell of a lot of money and energy into delivering the ability to do this and we’ve been all over it for a long time—way before the market went into turmoil, and that will not affect the timing of this in any way. No. Period. We’re doing this no matter what.”
This is a positive announcement for crypto enthusiasts. Most crypto-related projects that sprouted up in 2017 were knee-jerk reactions to what was hot in the market. This, however, seems like a thoroughly thought out plan that has been brewing for a while.
Joseph Christinat’s interview did not confirm whether Nasdaq’s Bitcoin futures will be cash-backed or physically settled. Bakkt will be launching the first physically delivered Bitcoin futures in this coming January. Cash-settled Bitcoin futures came into the market in December of 2017 by the CBOE and CME Group.
Back in November 2017, Nasdaq announced the target launch of their Bitcoin futures to be by mid-2018. Their plans hit a snag when Bitcoin and cryptocurrencies began tumbling in the first half of 2018. These plans were pushed back to create a “unique enough” offering to the market.
Bitcoin Price Movement
According to CoinMarketCap, BTC is currently trading at $4,029.40 a coin, up 1.34%, in 24 hours.
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