“We’re Doing This No Matter What”; Nasdaq Confirms Bitcoin Futures Launch

Last week, Block Explorer reported that Nasdaq was gearing up to launch a bitcoin futures trading platform. Well, those reports have now been confirmed by Nasdaq.

Bitcoin futures are coming to Nasdaq, the world’s second-largest stock exchange on the planet, in early 2019.

The news was confirmed by Joseph Christinat, the vice president of Nasdaq’s media arm.

Speaking to The Express, he said:

“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.”

Nasdaq is reported to have “run a few extra miles” with regulators to ensure their futures contracts are free from manipulation and other nefarious market practices. The bitcoin futures platform will integrate Nasdaq’s unique surveillance system which targets and minimizes manipulation.

“We’re Doing This No Matter What”

Asked about launching the trading platform in the midst of bitcoin’s biggest drop since 2013, Christinat was unfazed:

“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.”

A UK broker at XTB confirmed Nasdaq’s sentiment, saying: “This isn’t a knee-jerk reaction or jumping on the bandwagon – this is a serious plan.”

Indeed, Nasdaq claims it has been in the blockchain game for five years now, working on the best way to tap into, and support, the market. It appears the fruits of its labor are now beginning to appear.

Many have claimed the launch of Nasdaq futures will act as a catalyst for the next price surge. However, it’s worth remembering that futures contracts also allow traders to bet against an asset, putting downward pressure on the price.

When the first bitcoin futures contracts were introduced in late 2017, it triggered a record price run, followed by a quick reversal.

Will history repeat itself when the Nasdaq futures platform arrives?

Further reading: Wall Street is Coming to Crypt; Nasdaq Bitcoin Futures Explained

Ben Brown

Editor, Block Explorer News

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