NASDAQ's Buzzkill CEO Downplays Reports Of 2018 Bitcoin Futures
All eyes are on Bitcoin these days, mainly because of its meteoric rise in valuation. Just a day ago, with Bitcoin's price easily surpassing the $10,000 threshold and hopefully bullying its way into mainstream acceptance, there were reports that Nasdaq, Inc. would launch Bitcoin futures during the first half of next year.
Sources within the company claimed that the move, which would make Nasdaq the third major U.S. exchange to dabble with Bitcoin, would take place sometime during the second quarter of 2018. It was also stated that such contracts would be traded on the Nasdaq's NFX market.
However, commentary today from Nasdaq CEO Adena Friedman has thrown cold water on those earlier claims. According to Friedman, while speaking with CNBC, any talks over Bitcoin futures are only in the early, preliminary stages.
"We actually haven't announced anything," said Friedman. "Really, we are continuing to evaluate whether bitcoin can be an asset class that can exist in a more regulated market environment.”
She added that Nasdaq is currently talking with clients and partners about how to best approach integrating cryptocurrencies like Bitcoin before it lays out any official plans with regards to making products available. However, when that time does arrive, Friedman says that a couple of financial tools are available to help regular cryptocurrencies.
"There's the future. That allows for hedging and other trading strategies, and there is also the ETF (exchange traded fund)," Friedman added.
Bitcoin is up over 900 percent since the start of 2017, while fellow cryptocurrency Ethereum has enjoyed a 5,300 percent increase during the same time period.