The world’s second largest crypto exchange may have stalled on plans to launch a Bitcoin Futures contract, but are now stepping up efforts in that direction according to Bloomberg sources.
The offering could come as soon as Q1 2019, but possibly behind the Bakkt Bitcoin Futures launch scheduled for January 24.
The two persons who claimed to be familiar with the matter told Bloomberg, that Nasdaq “has been working to satisfy the concerns of the U.S.’s main swaps regulator, the Commodity Futures Trading Commission [CFTC], before launching the contracts.”
With this in mind, one would not be wrong to expect that the offering goes live as soon as the regulatory seal is given. The prospect of two Bitcoin Futures going live in 2019 will likely lift the spirits of crypto market traders since the products will usher in more institutional investors to the industry.
But there is another twist to the story.
Nasdaq Reignites Bitcoin Futures Contract Interest Following Market Slump
The first time that Nasdaq revealed plans to launch a Bitcoin Futures Contract was in January this year when the value of Bitcoin was hovering somewhere around $13,000. The giant exchange subsequently announced that they were still undecided about the offering which they had earlier planned to roll out in June 2018.
Now, almost eleven months later and with Bitcoin prices down by more than 70%, Nasdaq has reignited interest in introducing a Bitcoin Futures contract. With some members of the crypto community including enthusiast, Anthony Pompliano believing that institutional investors are buying the dip in bitcoin prices, Nasdaq comes under the radar.
Has the stock exchange been buying Bitcoin at extremely low prices to make massive profits when their Bitcoin Futures service is unveiled?
We cannot say for sure either can we entirely rule out the chances of that happening.
The downline is that anyone hoping for a crypto market resurgence like we are can only expect that the entrance of institutional giants like Nasdaq into the industry come Q1 2019 will play a part