Nasdaq’s 7 Trillion Dollar Muscle Flexes Toward the Future
Widely circulated reports on 29 November reveal Nasdaq will set a bitcoin futures market by the middle of next year. Cantor Fitzgerald LP is to offer a bitcoin derivatives platform on its exchange around the same time.
Second only to the New York Stock Exchange (NYSE), Nasdaq is a really big deal within securities exchanges. It is known as a haven for technology-related equities. Cantor Fitzgerald LP is a trusted financial services player, one of only 22 to trade US government securities at the Fed (since 2006).
Stephanie Yang and Alexander Osipovich write: “The emergence of bitcoin futures would be a big step toward maturity for the cryptocurrency, which is less than a decade old. By letting traders bet on whether bitcoin rises or falls, a futures market would make it easier for both big banks and retail investors to trade bitcoin.”