One of the world’s biggest stock exchanges, Nasdaq Inc, is reportedly planning to get into Bitcoin Futures. According to Bloomberg, Nasdaq wants to launch Bitcoin Futures trading by the first quarter of 2019. The exchange is working to mollify the concerns of the regulators, especially the Commodity Futures Trading Commission (CFTC), around Bitcoin derivatives trading.
Recently, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE) had also announced that its Bakkt platform will be launched in January 2019. The Bakkt launch date got pushed from November to January due to pending financial and regulatory approvals. SEC has not approved many ETFs owing to liquidity concerns, market manipulation and other issues. Notably, CBOE and CME already offer Bitcoin Futures contracts to traders.
If we see good investor participation in the Bitcoin Futures Market offered by Bakkt and Nasdaq and they can address some of the core concerns voiced by the US regulators, it is likely that the regulatory bodies might view other cryptocurrency-based instruments more favourably in the coming year.
Lesson for investors: Big players clearly recognise that there is a huge demand for the market. It is not a coincidence that they are spending their dollars in setting up infrastructure for Bitcoin derivatives trading even in the current bear market. They believe in cryptocurrencies, so should you!