Nasdaq And VanEck Will Launch "Bitcoin Futures 2.0"

Nasdaq And VanEck Will Launch

Sources told Bloomberg News today the New York-based exchange operator is waiting for approval from the U.S. Commodity Futures Trading Commission (CFTC) to list bitcoin derivatives contracts on its trading platform. "The New York exchange operator, which was first reported to be eyeing Bitcoin futures previous year, wants to allow trading in the first quarter of 2019, one of the people said".

In spite of the seismic drop in the Bitcoin unit price recently, the worlds second largest stock exchange - Nasdaq - is planning on launching a Bitcoin futures product in the coming months.

In its order rejecting the latest round of bitcoin ETFs, the SEC said the applicants failed to demonstrate how they could prevent fraud and market manipulation.

The current round of CME monthly Bitcoin Futures trading, has its last trading day on Friday. The director said that the move is in line with the company's efforts to bring a regulated crypto 2.0 futures-type contract to the market. At the end of October, the network appeared information about the fact that Goldman Sachs has already begun to attract customers to launch bitcoin derivatives, which are similar to futures from CME and the CBOE, but will not be traded on the stock exchange.

The Nasdaq Bitcoin futures are not the first to hit the cryptocurrency market, and probably won't be the last.

Forget the plunging prices, Wall Street is still thirsty for bitcoin and cryptocurrencies. They will also use MVIS's trusted pricing benchmark to "inspire confidence with regulators, and institutions" willing to enter the crypto space.

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Still, Gurbacs hinted that "there's lots to look forward to in 2019", emphasizing a hopeful launch date for the bitcoin futures product in Q1 of next year. Separately, VanEck has been attempting to win endorsement from the Securities and Exchange Commission for a crypto-based exchange-traded fund.

If the price of bitcoin is much higher than $6,000 on the date of expiry, I get my bitcoin at a huge discount to the market.

The report comes nearly a year after Nasdaq announced its plans to introduce bitcoin futures back in November 2017.

The physically delivered BTC futures product will be launched on the new cryptocurrency exchange Bakkt.

And while the details of Nasdaq's plans still remain unclear, the increased competition by the two exchanges could lead to an increase in additional liquidity for the asset, something the market desperately needs. If that's the case then for the short-sighted, bitcoin these days seems like it could be ripe for the big money to start flowing in 2019.


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