Now there’s no doubt about Nasdaq launching Bitcoin futures after confirmation by insiders in an exclusive report in the U.K. Daily Express online media outlet on December 3. The confirmation came directly from Nasdaq’s Vice-president of Communications Joseph Christinat to a Daily Express contributing reporter.
According to Christinat:
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.
He then added:
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.
While this news is of greatest interest to the institutional investors who will take advantage of the Bitcoin futures listing, it’s also a boost for the general market since it shows optimism for a recovery in price for bitcoin. And that optimism could translate to increased confidence from other areas of the global financial industry, such as banks.
And naturally it’s a step towards mainstream adoption of cryptocurrencies.
Christinat commented about the Nasdaq move into cryptocurrencies:
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.
Based on the strength and certainty of the statement from Christinat, it appears Nasdaq has been looking into the cryptocurrency markets for some time and has carefully analyzed what role they might play.
Christinat makes it clear that besides taking their time, Nasdaq has invested a good deal of energy and money into the adoption of blockchain technology.
He made a compelling and encouraging statement to this effect and to the point of entering the market now:
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.
All that’s required is the go-ahead from the CFTC, but as we’ve already seen, Christinat believes this is academic and the approval is forthcoming.
If this is true, we could see quite a few Bitcoin futures products launching in 2019. Bakkt already has plans to do so, and if the CFTC is approving these products, there are any number of other venues who could see fit to introduce bitcoin futures.
Do you think Bitcoin futures are a good thing, or that derivatives of cryptocurrencies will ultimately harm the blockchain industry? Let us know below.