Nasdaq to launch Bitcoin futures despite falling prices, sources say

27 Nov, 2018
by Richard Allen
News
Nasdaq to launch Bitcoin futures despite falling prices, sources say

According to two people close to the matter, Nasdaq is planning to move ahead with its plan to list Bitcoin futures despite the losses experienced by the cryptocurrency over the last year, Bloomberg reports.

The sources have stated that Nasdaq has been working to ease the concerns of the US’s Commodity Futures Trading Commission before proceeding with the launch. One source further stated that Nasdaq is eyeing Q1 of 2019 as the start of trading.

In January, Nasdaq CEO Adena Friedman explained that the New York exchange was figuring out how best to distinguish their products from competitors. According to one source, Nasdaq’s futures will be based off Bitcoin’s price on several spot exchanges, as compiled by VanEck.

Bakkt recently announced that they too are eyeing a Q1 of 2019 release date for the Bitcoin futures platform, citing “the volume of interest and work required to get all of the pieces in place” as the reason for extending the launch date.  

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