A report from Bloomberg revealed last week that Nasdaq (NDAQ) which holds the position of second largest stock exchange by total capitalization in the world is planning to list Bitcoin Futures in the first quarter next year.
The report submitted by Bloomberg was later confirmed by Joseph Christinat, the Vice President of Nasdaq’s media team this week on Tuesday (Dec 4) while having an interview with the Daily Express.
Christinat mentioned in an interview that “Bitcoin Futures will be listed and it should launch in the first half of next year”. He further added that they are waiting for the green signal from Commodity Futures Trading Commission (CFTC) as there are so many efforts contributed by the team who are working regularly to make the idea academic.
We’ve seen plenty of speculation and rumors about what we might be doing, but no one has thought to come to us and ask if we can confirm it, so, here you go – we’re doing this, and it’s happening, said Christinat. The spokesperson also emphasized on Nasdaq focus on cryptocurrency and blockchain technology which has been from years.
Since we all are familiar with what happened in the cryptocurrency market in 2018, the news about listing of Bitcoin Futures will add a growing confidence in traditional banking institutions. The cryptocurrency and digital payment system have an important role to play in the future of global finance.
Christinat also explained that Nasdaq entered into the blockchain game almost five years ago. When the technology was revealed publicly, they lean out of the window and tried to attract a lot of investors and financial traders. He also stated that the financial institution has put a hell lot of energy and money to deliver what we will see in 2019. Nasdaq was working for the same for a long time and now when the market is uncertain, it will not affect the timing whatsoever the condition is.
David Cheetham, market analyst of a UK-based broker XTB believes that the move in terms of acceptance would be a game changer. Cheetham added that it looks like Nasdaq has been working on the project for quite some time which means that someone is not jumping on the bandwagon. It is serious!
Chris Beauchamp, IG Group’s Chief Market Analyst upon hearing the news mentioned that the announcement would be accepted warmly by traders and stock brokers. According to him, the news will also bring more transparency and visibility to an unregulated market.
The yet to be launched Bitcoin futures is being noticed as a positive move through which Bitcoins and other similar cryptocurrencies will be accepted widely in the future. Apart from Bitcoin futures, last month the world’s first crypto ETP gets a green signal in Switzerland when the Amun Crypto Basket Index ETP was approved for trading under the ticker HODL on the Six Swiss Exchange.
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