As one of the globe's leading stock exchanges, NASDAQ shows no hesitation towards cryptocurrency market fluctuations by partnering with VanEck to launch diverse digital assets. VanEck The aim here is to roll out a variety of digital assets to the global marketplace.
Bitcoin Futures Contract
Rumors of a NASDAQ Bitcoin The buzz surrounding Bitcoin futures contracts has been growing, highlighted recently by Bloomberg report, an account from 'two sources familiar with the matter,' detailing the plan for a Bitcoin futures contract rollout on the exchange by early 2019, backed by a statement from Gabor Gurbacs, VanEck's Director of Digital Asset Strategy. a tweet .
Among these financial products, the Bitcoin futures contract stands out. Traded on NASDAQ, VanEck will hold the key role of computing Bitcoin's spot price from numerous cryptocurrency exchanges.
Speaking at the Consensus Invest conference in New York, Gurbacs highlighted the introduction of 'crypto 2.0 futures products,' compliant with regulatory standards.
\"What stands out is the extensive effort we've put in alongside the Commodity Futures Trading Commission to elevate standards for oversight and security,\" Gurbacs emphasized.
In a conversation, Gurbacs regarded the new futures product as a better-regulated alternative to current Bitcoin futures. He mentioned employing NASDAQ's SMARTS surveillance system to build trust among fundamental market figures and institutional investors hesitant about crypto.
SMARTS provides a broad suite of algorithms designed to catch suspicious market activities. Gurbacs referred to this technology as the 'big watchdog engine' to ensure fair and regulated Bitcoin futures trading.
Cash-Backed or Physically Settled?
Currently, two BTC Numerous futures products have already received the CFTC's approvals; some are managed by the Chicago Board Options Exchange and Crypto Facilities. These are cash-settled, implying that upon expiration, transactions aren't settled in Bitcoin. Contrasting this is Bakkt's Bitcoin futures, expected to debut soon, designed to pay out in Bitcoin to contract holders upon expiry. Chicago Mercantile Exchange Bitcoin Futures pair traditional investment methods with Bitcoin's contemporary rise.
NASDAQ's potential introduction of a cash-backed futures framework could blend complexities into the Bitcoin futures concept. But given NASDAQ's inclination towards blockchain and crypto, a cash-centric futures plan doesn't seem far-fetched.
Also on the horizon, the SEC's decision on VanEck and SolidX's proposed physical-backed Bitcoin ETF is expected by February 2019. VanEck has been proactively engaging countless initiatives like launching the BTC OTC pricing index (MVBTCO), which attempts to ensure market authenticity and address regulatory concerns.
Hailing from the UK, Jimmy has been keenly observing blockchain's evolution with optimism about its groundbreaking potential in transforming finance. MVIS Bitcoin U.S OTC Spot Index Stay updated with Jimmy: @adejimi on Twitter or reach out at [email protected].
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