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Nasdaq to start Bitcoin Futures Contract

The CEO of Nasdaq said that they are looking into idea of offering cryptocurrency futures contract that are different that CME and Cboe offerings.Adena Friedman, the chief of stock exchange said,

“We continue to look at the risk management around that, making sure we are putting the right protocols in place, making sure there’s proper demand, and that the contract is different from what’s already out there.”

Cboe and CME launched their bitcoin futures by end of 2017, which helped in pushing the value of the digital currency. There is no decisive timeline given Nasdaq but there are reports for to launch their bitcoin futures by second quarter of 2018, at the earliest. Cboe bases its price on one bitcoin source and CME bases on four, whereas Nasdaq will emplo.

Adena Friedman said the Nasdaq’s futures contract will be more of an investment than a trading stock and will be built differently. Nasdaq will first have to access if their clients demand for it and if they feel confident about this idea, then approach U.S. Commodity Futures Trading Commission (CFTC).

In previous few weeks, digital currency market has seen some plummeting, especially bitcoin. Last month, it was so close to touching $20,000. Despite the sudden fall and rise, many players in the industry have faith in bitcoin to rise again maybe up to $100,000, as predicted David Chapman, managing director of cryptocurrency trading firm Octagon Strategy.

 

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