Nasdaq defies plummeting prices to push ahead with crypto futures in 2019

Nasdaq defies plummeting prices to push ahead with crypto futures in 2019”

According a Bloomberg report, published earlier today, Nasdaq has been working to satisfy the concerns of the US Commodity Futures Trading Commission (CFTC), which is the main regulator of derivatives markets in the US. The New York exchange wants to offer the new trading option in the first quarter of 2019, according to Bloomberg's sources.

In January, Nasdaq CEO Adena Friedman explained that the NY exchange was figuring out how best to distinguish their products from competitors. The Nasdaq futures will be based off the Bitcoin's price on numerous spot exchanges, as compiled by VanEck Associates Corp., the person said.

Recently, the interest in the crypto currency started to increase again and rose to the April values, according to Google Trends, but now most people are interested in - "burst if the bubble" as a result of the current situation to the depreciation of digital money and their capitulation - the market sentiment is not very positive. Gurbacs mentioned that by employing SMARTS and the MVIS asset indices they wished to gain the confidence of the regulators and institutions with regard to the crypto market. Do your market research before investing in cryptocurrencies.

A futures contract is a simple way for traders to bet on the future price of an asset, like bitcoin.

Nasdaq was first rumored to be considering Bitcoin futures contracts in November 2017, at a time when the cryptocurrency market was on the rise. In comparison, CME uses prices from four markets, while CBOE uses only one.

Nasdaq stock, the second-largest stock exchange in the world is coming together with an investment firm, VanEck. Separately, VanEck has been attempting to win endorsement from the Securities and Exchange Commission for a crypto-based exchange-traded fund.

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

"We believe that 2018 was the year of regulation and 2019 will be the year of implementation", said Gurbacs.

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. Bitcoin futures volumes at the CME hit their lowest levels this fall.

Currently, the demand from institutional investors for crypto can only be evaluated through the numbers that Bakkt, Fidelity Digital Assets, Goldman Sachs, BitGo Custody, Coinbase Custody, and other major over-the-counter (OTC) markets can provide.

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