VanEck Partners With Nasdaq For Bitcoin Crypto 2.0 Futures

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The exchange operator has been working alongside the Commodity Futures Trading Commission (CFTC), primary swaps regulator in the USA, to rest to peace some issue before launching the contracts.

NASDAQ CEO Adena Friedman said in January 2018 the exchange was trying to distinguish its plans for futures contracts from what was already in the market.

An unconfirmed report released today, November 27, 2018, claims that NASDAQ has plans to launch bitcoin-based futures contracts, and that these plans are continuing to go forward despite the recent crypto crash. Nasdaq's entry into the market is due to increasing demand from institutional investors form U.S Market.

As flurry of bearish streaks in cryptocurrencies has halted for today, but earlier BTCUSD tumbled to fresh 13-month lows at $3,760, while ETHUSD showed slumps upto $104.80 levels as the bearish momentum is intensified in both trends (as shown in the above technical charts), prolonging a continuous selloff that wiped-off nearly $75 billion off the collective market cap.

Gurbacs said during the conference that the partnership was in an attempt to "bring a regulated crypto 2.0 futures-type contract" to the crypto space.

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The stock exchange first introduced the idea of launching futures by the middle of this year, which was not long after CBOE and CME Group established their own launch date.

VanEck seeks to employ Nasdaq's stock markets surveillance system, called SMARTS, according to a CoinDesk report. Do futures markets have any effect on Bitcoin's long-term viability as an asset?

According to the President of Fidelity Tom Jessup, market analysts, hedge Fund managers and family offices capital actively engaged in the development of crypto products and tools.

Depending on when Nasdaq's plans are delivered, by Q2 of 2019, the virtual currency market could have NYSE and Nasdaq, both of which are two of the largest exchanges, in the market facilitating Bitcoin futures. VanEck is also carrying out its own process to obtain the approval for Bitcoin ETFs from the SEC, a decision that the entire crypto community is waiting for. This does not deny the representative SEC Hester pierce, she believes that the Agency should have a loyal attitude with a bitcoin ETF, at the same time, the Chairman of the Commission on securities and exchange Commission Jay Clayton stated that this is only possible after the market will determine the problem with manipulation. There are also hopes about the launch date for the bitcoin futures product falling in the first quarter of next year.

Bakkt is a cryptocurrency exchange platform, backed by the parent company of the New York Stock Exchange. If that's the case then for the short-sighted, bitcoin these days seems like it could be ripe for the big money to start flowing in 2019.

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