Nasdaq which is an exchange company is determined to start offering Bitcoin futures as soon as June 2018. This is good news is the report by Wall Street Journal is something to go by.The Exchange Company is following suit on the two Chicago-based markets that have given their specifics in the Bitcoin futures.
Even though regulatory approval has not been passed yet the truth is that Bitcoin futures seem to be in demand something that is making many exchange companies consider a possibility of investing in them. According to the former Mymex Executive John D’Agostino who is now a board member at Nasdaq: “Research departments in almost all regulated exchange companies are saying, ‘we can do this.’ The major costs associated with this investment is marketing. But the question is if people are willing to trade in this why can’t you? This looks like a gift from heaven.”
Based on the report Nasdaq will add Bitcoin contract to the existing Nasdaq Futures Platform (NFX). This platform was started in 2015 with is main focus being energy trading. This time it will change to include cryptocurrency contracts. Everyone seems to be excited about the emergence of Bitcoin futures hoping that the market would be regularized.
Even though a company like CME Group has a bigger market than Nasdaq, Nasdaq has a bigger name when compared to other retail investors. Nasdaq’s offer to trade Bitcoin Futures might be the difference to people who are not yet decided whether to invest in Bitcoin or not. This is because futures will act as a guarantee that the market is not going anywhere any soon.
With big companies like Nasdaq and CME willing to invest in Bitcoin futures customers are becoming more confident with the cryptocurrency. This is probably one of the reasons why the Bitcoin price is moving up very fast.