According to a report issued by the Wall Street Journal, the Nasdaq may commence offering trade options in Bitcoin futures. This comes on the back of two Chicago-based markets that have given indications that they will be enabling clients with the option to trade in Bitcoin futures starting in December, 2017.
Even though the regulatory framework meant to govern this new trade option is yet to be fully developed, it is quite palpable that there is a high-demand market for Bitcoin futures. Mr. John D’Agostino, a former executive at Nymex who now serves as an exchange board member stated that;
“Every research department of every regulated exchange is saying, ‘Can we do this?’… the majority of cost associated with that are marketing. If people want to trade this thing, why wouldn’t you? This is a gift from the heavens.”
The report has it that the exchange will inculcate Bitcoin contract into its existing Nasdaq Futures (NFX) platform. The NFX which was launched back in 2015 has been mainly focused on energy trading, but this foray into Bitcoin futures might be the move that opens it up to the wider cryptocurrency market.
Though the CME Group that has announced its intention to start trading in Bitcoin Futures in December is much larger, the Nasdaq brand seems more familiar to retail traders and investors.