Bitcoin [BTC] Futures to be launched by Nasdaq in Q1 of 2019


Despite the plunge in Bitcoin’s prices, sources close to the matter said that Nasdaq Inc. is moving forward with the plan to pursue Bitcoin futures.

They said that Nasdaq is working to satisfy the Commodity Futures Trading Commission [CFTC], before launching the contracts. Moreover, Nasdaq is said to launch trading of the Bitcoin futures in the first quarter of 2019.

Nasdaq’s CEO, Adena Friedman said in January 2018 that the exchange was trying to distinguish their plans from the already existing competition by CME and Cboe. She also said that Nasdaq’s futures will be based off Bitcoin’s prices on various spot exchanges as compiled by VanEck Associates Corp.

CME and Cboe brought their Bitcoin’s futures into the market via their self-certified process in December last year. Although Bitcoin futures were supposed to captivate the market it had subpar performance as the price of Bitcoin dropped from an all-time high of $20,000 to as low as $3,500.

The news of Nasdaq introducing Bitcoin Futures first hit the market in 2017 when Bitcoin was trading at $11,000 and it was said to be released in the second quarter of 2018. Although it was said to be released in 2018, nothing came to fruition last year.

A Twitter user OmegaCapital said:

“futures aren’t a positive in this market as we’ve seen with the CBOE futures that launched in Dec”

Another user Ollie Shaw commented:

“Bitcoin +20% days are over.
Futures will allow companies to accept Bitcoin and mitigate price fluctuations by managing exposure. i.e construction firm wins large contract, payment is in Bitcoin in 3 months. Construction firm is short USD/BTC futures until payment date. CBOE futures underlying is not an actual coin, which is a joke. If you’re long a barrel of oil you can accept delivery of that barrel.”

The post Bitcoin [BTC] Futures to be launched by Nasdaq in Q1 of 2019 appeared first on AMBCrypto.