U.S. stock exchange Nasdaq still has the intention to launch bitcoin futures. According to the financial news agency Bloomberg the exchange is planning to launch the cryptocurrency product in the first quarter of 2019. Two insiders report that the exchange ‘has been working to satisfy the concerns of the U.S.’s main swaps regulator, the Commodity Futures Trading Commission (CFTC), before launching the contracts.’
Over a year ago Nasdaq suggested it could launch bitcoin futures in mid-2018. This announcement was done shortly after CBOE announced its November 2017 release date for their bitcoin futures. These did not have the lasting impact cryptocurrency investors were hoping for, and the price decline this year hasn’t done much good.
Obviously the exchange didn’t make the ended mid-2018 launch. The insiders suggest a launch in Q1 2019. It’s likely that Nasdaq will once again be outpaced by a competitor. Intercontinental Exchange’s product Bakkt is launching physical bitcoin futures on January 24th.
In the past four to six weeks the price of bitcoin halved. Currently it’s trading around $3600. That’s a decline of almost 82% from its all-time high from 11 months ago.
With Bakkt launching its bitcoin futures in January, and with SEC decision for the Bitcoin ETF from VanEck and SolidX in February at the latest, early 2019 seems like a crucial time for the bitcoin and cryptocurrency in general. At least Ohio is accepting bitcoin as a payment method for taxes, that’s one small step in the right direction: utility.
Also published on Medium.