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Nasdaq Inc. is proceeding with the current market slump. Familiar with the matter. Crypto coin despite the plunge the crypto market has experienced over the year.
The sources have been working for the Commodity Futures Trading Commission, the chief swaps regulator in the U.S. before launching the product. One person said to be trading the new product by the first quarter of 2019.
Growing Interest In Bitcoin Futures
Initially, Bitcoin futures captivated the financial world for a brief period. However, they have been drowned in by the CBOE Global Markets Inc. and CME Group Inc. This crisis last December at the height of the global cryptocurrency craze.
Bitcoin futures could usher in a new era of institutional cryptocurrency investment, trading in them has been slow. Consequently, Bitcoin has plunged from around $ 20,000 to $ 4,000 as the time of writing.
Shortly after CBOE and CME were done with their contracts, the CFTC outlined an enhanced review process. Now, all exchanges are looking for a digital asset derivatives.
At the start of the year, Adena Friedman, the CEO at Nasdaq said that the exchange was evaluating ways in which it would distinguish its plans from the contracts that were being offered by competitors.
Therefore, the firm's futures will be based on BTC's price on numerous commercials as compiled by VanEck Associates Corp. On the contrary, CME uses only one.
However, Nasdaq is not the only BTC derivative impending. ICE is also on track to launch Bakkt, at Bitcoin futures derivatives platform on January 24, 2019.
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