Nasdaq’s Bitcoin Futures announcement has been delayed for a while now, and will further be pushed to Quarter 1 of 2019 according to sources. The expected delay comes at a time when the Cryptocurrency markets are bleeding in red with Bitcoin falling below $4000 and Ethereum nearing the $100 mark.
These sources who reported the launch of Nasdaq’s Bitcoin Futures were apparently two people who knew about what was happening.
According to the sources, Nasdaq has been working towards ensuring the Commodity Trading Commission’s (CFTC) concerns are met before launching.
The Bitcoin contracts of Nasdaq will be different from CME and CBOE’s Future Bitcoin markets. It will take price references from numerous spot exchanges compiled by VanEck Associates Corporation. VanEck at the moment is waiting for a confirmation by the Securities and Exchange Commission on the review of their Bitcoin ETF proposal.
Adena Friedman, the chief executive officer at Nasdaq, had confirmed in January that their Bitcoin contracts would be different. The exchange futures will take its price references from numerous spot exchanges, as compiled by VanEck Associates Corp., reported Bloomberg. VanEck is the same company whose Bitcoin ETF proposal is under review at the Securities and Exchange Commission (SEC).
The launch of Nasdaq’s Bitcoin Futures along with several other important launches such as Bakkt will take place in the first quarter of 2019. Ever since the market has started spiralling down most of the ideas and initiatives have decided it is best to delay it due to low demand for Cryptocurrency investing and trading.
Institutional investors are what most of these services are eyeing, however, so far the CME and CBOE Bitcoin future markets have not made as much an impact on institutional investors.
The news is not confirmed by Nasdaq as of yet. However, Bloomberg being a credible news and information provider will tempt people to ‘hodl’ till Nasdaq’s Crypto services emerge next year.
Image Source – Flickr
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