Nasdaq Confirms Plans To Launch Bitcoin Futures …
Nasdaq Confirms Plans To Launch Bitcoin Futures In H1 2019
As reported on December 3 by British tabloid Express, the world’s second largest stock exchange, Nasdaq, has confirmed that it will launch Bitcoin futures contracts in the first half of 2019. At the end of November, two anonymous sources familiar with the situation told Bloomberg about similar plans by Nasdaq..
While Nasdaq’s vice president of public affairs, Joseph Christinet, confirmed the plans – “it’s true, we are doing this” – he also noted that the US Commodity Futures Trading Commission (CFTC) approval is required to launch bitcoin futures. According to the article, “a lot has already been done to resolve the issue of approval”.
Christinet also told Express that Nasdaq has been eyeing the crypto sector “for years” and has been working on bitcoin futures for “most” of 2018..
“We have invested a lot of money and energy in realizing this opportunity, and we have been actively engaged in this for a long time – long before the market turned into chaos, but this did not affect the timing of our work. No delays. We will do it no matter what, ”he added.
It is not clear from Christinet’s interview whether Nasdaq Bitcoin futures will be deliverable or settlement (i.e. where the profit will be paid – in bitcoins or fiat).
Settlement bitcoin futures hit the market back in December 2017, but delivery contracts are only slated to launch in January 2019 on Bakkt, a digital asset platform created by ICE, operator of the New York Stock Exchange (NYSE).
For the first time, the Nasdaq exchange announced the launch of bitcoin futures back in November 2017 (then it was planned to open them in mid-2018), but soon after the announcement, the launch was postponed in order to make this investment proposal “quite unique”.
Nasdaq Bitcoin Futures are expected to be the first of the “transparent, regulated and traceable” investment crypto products to be launched as part of a partnership recently concluded by Nasdaq with US investment firm VanEck..
In addition, VanEck is currently awaiting the final decision of the US Securities and Exchange Commission (SEC) regarding the deliverable Bitcoin ETF, which the firm is organizing in conjunction with SolidX, a software and financial services company based on the blockchain..
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