Nasdaq is preparing to launch futures for bitcoin next year

U.S. equities exchange operator Nasdaq has pushed back its plans to launch a futures product for bitcoin, according to a report Tuesday by Bloomberg News. Reports first broke of Nasdaq's intentions to enter the bitcoin futures market in late 2017 when the price of the crypto was soaring towards $20,000 a coin. At the time, a source with direct knowledge of the firm's plans told this reporter that the futures product would go live in the second-half of 2018. Citing two people familiar with the matter, Bloomberg reported Tuesday that the firm will begin trading the product in the first quart of 2019. Its rivals — CME Group and Cboe Global Markets — launched their own futures markets in December 2017. With help from asset-manager VanEck, Nasdaq's futures will be based of the price of bitcoin across multiple spot exchanges, according to the report. (Bloomberg)

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Frank Chaparro covers the intersection of financial markets and cryptocurrency as Editor-at-Large. Since joining the publication in 2018 as its first reporter, he has played a key role in building The Block into a leader in financial journalism and research. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected]

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