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.