Last Tuesday, November 27, citing internal sources, Bloomberg reported that the world’s second-largest stock exchange Nasdaq is planning to launch its own Bitcoin Futures contracts by the first-half of 2019.
The report suggested that Nasdaq is currently working on getting the regulatory approval from CFTC for the futures contracts. In an exclusive coverage on Monday, December 3, UK’s Daily Express confirmed the arrival of Nasdaq’s Bitcoin Futures next year.
The arrival of Nasdaq futures contracts could likely trigger the mass adoption of the ‘decade-old’ and the world’s largest cryptocurrency - Bitcoin.
Nasdaq’s Vice President of media team, Joseph Christinat confirmed the news saying: “Bitcoin Futures will be listed and it should launch in the first half of next year – we’re just waiting for the go-ahead from the CFTC but there’s been enough work put into this to make that academic. We’ve seen plenty of speculation and rumours 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.”
Although last month’s massive crypto crash has shaken investors’ confidence, Christinat says that Nasdaq remains undeterred by such bust cycles. Christinat further told the UK Daily that Nasdaq has been closely monitoring the cryptocurrency space for long.
He further added: “We got into the blockchain game five years ago, and when the technology first popped up we just leant out of the window and shouted ‘hey come over here’ right at it. 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.”
Market analysts and experts from the crypto space are sharing their views on the recent confirmation. The arrival of big players will surely improve liquidity and further broaden the usability of Bitcoin, believe experts.
2019 Could be a Game Changer for Bitcoin and the Crypto Market
Another big player from the global financial space - Intercontinental Exchange (ICE) - is also launching its Bakkt Bitcoin Futures by late January 2019. It looks like next year could turn to be in favour of Bitcoin and crypto enthusiasts, as we can see more institutional participation and thus the recovery of the crypto market.
So what is next in store for Nasdaq? A Crypto exchange? While speaking to CNBC earlier this year, Nasdaq CEO Adena Friedman that she won’t rule out this possibility. "Certainly Nasdaq would consider becoming a crypto exchange over time. If we do look at it and say 'it's time, people are ready for a more regulated market,' for something that provides a fair experience for investors,” Friedman said.