Bitcoin heading to the mass financial markets via Nasdaq
According to a Bloomberg report a few weeks back, Nasdaq was planning on launching a Bitcoin Futures product by the end of Q1 in 2019. The project was set to be in collaboration with the U.S. investment firm Van Eck, which managed to pass a decision the following day. However, there was much doubt and speculation around this.
The doubts of the Nasdaq launching Bitcoin futures is now gone, as there has been a confirmation by insiders in an exclusive report by the U.K Daily Express, held on an online media outlet on December 3rd.
This confirmation came directly from the Nasdaq’s Vice-president of communications, Mr. Joseph Christinat via a Daily Express contribution reporter on the topic.
According to Christinat of Nasdaq:
“Bitcoin Futures will be listed and it should launch in the first half of next year, we’re just waiting for the go-ahead from the CFTC but there’s been enough work put into this to make that academic.“
After that, he later added that:
“We’ve seen plenty of speculation and rumors about what we might be doing, but no one has thought to come to us and ask if we can confirm it, so, here you go – we’re doing this, and it’s happening.”
This news has taken great interest to institutional investors who will take advantage of the Bitcoin Futures. It is also a boost for the general market since it is showing an optimistic view of the continuous development of Bitcoin. This kind of optimism will transform and could translate back into the increase confidence from other areas of the global financial industry including banks and its services.
This is a natural step towards the mainstream adoption of cryptocurrencies worldwide and without restrictions.
According to another comment Christinat made about the Nasdaq’s move towards cryptocurrencies, he stated:
“We got into the Blockchain game five years ago, and when the technology first popped up we just leaned out of the window and shouted ‘hey come over here’ right at it.”
Christnat has brought strength and certainty through these statements as it appears that the Nasdaq has been looking into the wide use cases and applications of the cryptocurrency market. He has been carefully analyzing the role this technology might be playing in our economy for the coming years, as stated by Chritinat.
Nasdaq, making a new financial system with the Blockchain
The Nasdaq has made it clear that besides taking the time to research the technology, Nasdaq has also invested a good deal of money and energy into the adoption of the Blockchain technology. As this will help it to achieve greater financial flows towards a better economy.
In a compelling and encouraging statement by Nasdaq, they also stated how they have put in money into cryptocurrencies even before the hype:
“We’ve put a hell of a lot of money and energy into delivering the ability to do this and we’ve been all over it for a long time, way before the market went into turmoil, and that will not affect the timing of this in any way. No, Period. we’re doing this no matter what.”
The institution is currently waiting on the go-ahead of the CFTC, however, Christnat thinks that this is an academic decision and that the approval is forthcoming.
If this holds true, it could lead to a huge influx of a few Bitcoin Futures products that will be launching in 2019 as companies like Bakkt are already on track for one of the biggest releases yet in the cryptocurrency and Blockchain industry. If the CFTC will be approving these products soon, then there will be a number of different venues that will also be fit to introduce even more Bitcoin Futures on the market.
What do you think about this upcoming bitcoin futures by the Nasdaq? Please feel free to leave your comment down below.