According to Bloomberg, NASDAQ is working on the implementation of Bitcoin Futures to be launched no later than next year. NASDAQ had previously announced its intention to introduce Bitcoin Futures in the market, but given the bearish trend of 2018, the stock exchange paused the launching of the contracts. The good news is that it seems the drop in prices has not slowed down the interest and enthusiasm of potential new investors that seek to join the digital assets era.
The increasing interest shown by users and investors about the adoption of Bitcoins (BTC) and other cryptocurrencies is what led NASDAQ to work on the creation of Bitcoin Futures, and to comply with the regulatory measures demanded by the Commodity Futures Trading Commission (CFTC) to be able to offer such product.
Although there´s not a specific date defined for the launching of NASDAQ Bitcoin Futures just yet, the stock exchange is expected to join CME Group and CBOE Global Market in the offering of those contracts by no later than 2019. Both CME and CBOE launched their Bitcoin Futures at the end of last year, when the cryptocurrency market was experiencing the biggest bull run yet.
Exactly a year ago, the enthusiasm for Bitcoins was incredibly high and people were jumping into the market in an attempt to make some gains, which is why financial institutions and stock markets started to pay attention up close, and create specific products for this industry. According to Adena Friedman, NASDAQ Chief Executive Officer:
The exchange was weighing how to distinguish its plans from contracts already offered by competitors.
The price on Bitcoin Futures will be calculated based on the prices shown on different crypto exchanges, information that will be gathered by VanEck Associates Corp. VanEck is also carrying out its own process to obtain the approval for Bitcoin ETFs from the SEC, a decision that the entire crypto community is waiting for.
Additionally, NASDAQ is not the only stock market that has announced its intention to bring Bitcoin Futures to the table. As previously reported, the Intercontinental Exchange Inc. has announced its plans to launch Bitcoin Futures through its platform Bakkt.