By recent reports, NASDAQ, in partnership with an investment firm VanEck, is about to launch their first Bitcoin futures contracts. An exact date hasn’t yet been set, but NASDAQ has announced that it’s going to be the first quarter of 2019.
These are not the first active Bitcoin futures. The CFTC (Commodity Futures Trading Commision) which regulates Bitcoin as a commodity, has already approved two crypto futures products before: one is CBOE (Chicago Board Options Exchange) bitcoin futures and the second is CME (Chicago Mercantile Exchange) bitcoin futures. Interestingly enough, both are from Chicago. CBOE bitcoin futures launched exactly one year ago. So it is safe to say that New York will be the second Bitcoin futures city.
The quarter of Bitcoin Futures
2019 Q1 is going to be filled with new Bitcoin derivatives as NASDAQ is not the only exchange which plans to launch a bitcoin futures contract. The ICE (Intercontinental Exchange) is planning to launch a bitcoin futures contract as well during Q1 2019. Besides, Bakkt which is a cryptocurrency exchange built by ICE also plans to start their Bitcoin Futures market on January 24. Originally it was scheduled on December 12, but got delayed.
It looks like the first quarter will bring much good news to institutional investors.
VanEck takes charge
VanEck is planning to launch multiple bitcoin derivatives including the already mentioned “bitcoin futures 2.0”. These products are going to be “transparent, regulated and surveilled digital” assets according to Gabor Gubracs, the director of digital asset strategy of VanEck. The company also has applied to the SEC (Securities and Exchange Commission) for approval for a Bitcoin ETF. The SEC has already turned down multiple applications because the application didn’t adequately demonstrate how they are going to fight fraud and manipulation.
“We are the closest that we can be. It is very clear to me that America wants a bitcoin ETF and we are here to build it.” Gabor Gurbacs optimistically told Fox Business.
Could these be the news the cryptocurrency cult is waiting for? Could we see a bullish Bitcoin at the end of January 2019? Those are just speculative questions, as the real outcome, we’ll see only when it happens. Today Bitcoin continues to drop another -4% along with other altcoins. Very few coins in the top 100 are performing green. Binance coin performed well today as of new DEX UX announcements but now has leveled out. During the first half of the day it quickly jumped +10% to $6,48, but now has leveled out to $6,02. Bitcoin Cash is probably the worst performer in the past days as it has lost more than -25%.
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