With the “two Bitcoin futures”, Friedman refers to Nasdaq Nordic, where a Bitcoin Exchange Traded Note (ETN), Bitcoin Tracker EUR and an Ethereum ETN have been trading for quite some time. Regarding the crypto market as a whole, Friedman noted that on Nasdaq they are convinced that cryptocurrencies “will play a role in the global economy”:I would say that our view is that digital currencies and cryptocurrencies will have a role in the global economy. The question is will they mature to a state that really is used for the transfer of goods.
Already at the end of 2017 there were rumors that Nasdaq was working with Cantor Fitzgerald to launch BTC Futures until the second half of 2018. However, the Nasdaq BTC futures did not happen, presumably due to the crypto winter that started in January 2018. At the same time, many other companies also entered the market with similar solutions, including the
We have been working with the industry and with a great partner to look at whether or not it’s the right thing for us to do. And I think that we’re still evaluating that.
If you’re going to create a product, you want to know that people are going to use it, and use it differently than how it’s being used today. The second thing is, we’d have to self-certify as a futures exchange for this. And we would use our NFX license to do that, but we have to make sure, from a risk-management perspective, we are fully prepared. And those are the two things we’re still working on.
Author : Jake Simmons