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Wall Street Journal: Nasdaq will offer Bitcoin Futures trading in June 2018

According to the Wall Street Journal, the Nasdaq exchange will begin to offer Bitcoin futures trading as early as June next year.

Written by Bryan Smith Published on

According to the Wall Street Journal, the Nasdaq exchange will begin to offer Bitcoin futures trading as early as June next year.

CME Group rocked the Bitcoin world with its announcement that it would offer Bitcoin Futures trading in December this year pending a regulatory review, and now the Wall Street Journal has reported that Nasdaq may well follow suit in June of 2018.

John D’Agostino, a former Nymex executive and current exchange board member, cites that numerous exchanges are now weighing up the option of proceeding with Bitcoin Futures trading, quipping that “Every research department of every regulated exchange is saying, ‘Can we do this?’ “The majority of costs associated with that are marketing. If people want to trade this thing, why wouldn’t you? This is a gift from the heavens.”

Read: Elon Musk confirms he’s not Bitcoin’s inventor, Satoshi Nakamoto

The Journal cites that the Nasdaq exchange would add the Bitcoin contract onto its Nasdaq Futures platform, which it launched in 2015. The platform, up until now, has mainly focussed on energy trading.

The move may well see other firms adopt Bitcoin Futures trading; previously, Man Group has expressed its interest in offering such a contract, though it remains unclear as to whether the company would leverage CME Group’s contract or pursue direct interface with cryptocurrency markets.

Under review

Any US exchange’s decision to launch Bitcoin Futures will be subject to a regulatory review by the US Commodity Futures Trading Commission. It remains uncertain what the Commission’s verdict will be; earlier this month, an open letter from Interactive Brokers Group Chairman Thomas Peterffy expressed concern with proposals to offer Bitcoin Futures trading within the near future.

Bitcoin remains fresh from achieving a new all-time high at $11K USD, before an apparent selloff has brought prices back down to the $10K USD mark.

Read: As it nears $10K, Bitcoin could become a new safe haven for big-time investors

What are your thoughts? Be sure to let us know your opinion in the comments below!

Written by

South African technology journalist, podcaster, photographer and filmmaker. Hodling - BTC, NEO, ETH.@bryansmithsa

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