Nasdaq is the world’s second-largest stock exchange, after New York Stock Exchange. It has a $6.831 trillion stock market and it will enable bitcoin futures trading by mid-2018. A Wall Street Journal report revealed that Nasdaq and Cantor Fitzgerald & Co. will list bitcoin futures within the first half of 2018. The two financial institutions are rushing the integration of bitcoin given the cryptocurrency’s recent surge in price.
Shawn Matthews, chief executive of Cantor Fitzgerald & Co., stated that cryptocurrencies are a new asset class that “is not going away,” and that bitcoin is here to stay. He stated: “The asset class is not going away. If you look at the next level, it will be the institutions coming in and being larger participants in the marketplace, especially as liquidity gets better”.
Cantor’s futures exchange has already been approved by the US Commodities and Futures Trading Commission (CFTC), and considering that CFTC has approved several bitcoin futures listings including the bitcoin options, derivatives, and futures exchange of LedgerX, regulatory hurdles of Cantor in listing bitcoin are expected to be minimal.
Other major exchanges including Nodal Exchange are actively investigating the potential of listing bitcoin futures on their regulated exchanges and trading platforms. Given the rapid increase in the mainstream adoption of bitcoin and the rise in demand for cryptocurrencies, every exchange in the US and in the global finance market is planning to integrate bitcoin in the short-term. Nasdaq’s listing of bitcoin futures will trigger more exchanges to pursue the path of bitcoin futures in the upcoming months.
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