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Bitcoin Futures Are Coming to NASDAQ in Q1 2019
Even though the cryptocurrency market is still plummeting with Bitcoin going down from the market capitalization of around 110 billion as noted at the beginning days of November to the current cap of 67 billion dollars, there is at least some news related to the first cryptocurrency that could boost some moral into the crypto community.
Apparently, one of the largest stock exchanges, NASDAQ, announced that Bitcoin futures are coming to the market as confirmed on December 3rd.
Bloomberg reported back in November the same news; however, it is only now that the exact date is released for the arrival of Bitcoin futures to NASDAQ.
It is said that a lot of extensive work was put into the effort to bring Bitcoin futures to the second largest stock exchange, however, it is confirmed that the futures are arriving in not more than several months.
Bitcoin Futures to Become Available on NASDAQ
The cryptocurrency market seems to be crashing with the dips lasting for weeks now, providing the cryptos with only enough momentum to be able to acquire low portions of gains within positive trends that are failing to last more than 24 hours in most cases.
However, the good news is not lacking despite the case that BTC went under the value of 4000$ once again with the latest dips in the market.
Rumored back in November, it’s been said that Bitcoin futures are coming to NASDAQ, but the story wasn’t confirmed until December 3rd when Joseph Christinat, the VP of Nasdaq media team stated that Bitcoin futures are really becoming a thing.
Bitcoin futures will thus arrive at the second largest stock exchange as a product Joseph Christinat stated that the product has been in the process of creation for the most part of 2018.
The VP of Nasdaq media team also added that the process of creating Bitcoin futures and bringing them to the exchange was expensive as well as time-consuming as it required a lot of work.
However, the team will be able to bring the product to the market already in the first quarter of 2019.
Christinat also stated that they have been working on the product before the market started to show signs of extended bearish trends and major dips, adding that he will not allow the present chaos in the market to affect any of the plans related to Bitcoin futures as a lot of energy and hard work had been invested in the product.
From one of the interviews with the vice president of Nasdaq media group, the VP stated that the exchange has been paying close attention to the crypto space, waiting for the opportunity to make a contribution in form of Bitcoin shares.
However, Christinat didn’t provide any details on the way Bitcoin futures are going to be backed up.
This is not the first time we are hearing about Bitcoin futures, although it is a great deal to have the product available on the second largest stock exchange.
Physical Bitcoin futures are also coming to Bakkt in 2019, just around when Nasdaq should release their Bitcoin futures product as well.