Looks like the bear market hasn't quite scared away everyone.
In news out today reported by Bloomberg, Nasdaq Inc. said that they are moving forward with their plans of launching bitcoin futures products.
This is in spite of the fact that bitcoin is down close to 85% from where it was roughly 12 months ago.
Nasdaq said they are betting on sustained interest among investors and institutions despite the massive price drop.
Working with regulators:
Currently the Nasdaq has been working closely with the CFTC (the U.S.'s primary swaps regulator), in order to satisfy concerns that may arise with the product.
The CME and CBOE both listed bitcoin futures products late last year, but since then the CFTC has announced an enhanced review process prior to listing cryptocurrency derivatives.
Thus far, trading in bitcoin futures has been rather modest compared with expectations, though the Nasdaq hopes to change that when they launch their product, which is set to take place in Q1 of 2019.
Some more good news...
Bakkt, created by ICE (the parent company of the NYSE), is set to launch their bitcoin futures product on January 24th, 2019 as well.
Bakkt is especially interesting because it will mark the first time a fully regulated and physically settled bitcoin futures contract has ever existed.
By the time the first quarter of 2019 comes to a close, the bitcoin market may look very different than it does today, and that would be a good thing.
Here's to hoping!
Stay informed my friends.
Image Source:
https://coinpedia.org/news/nasdaq-decides-to-pursue-bitcoin-futures/
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