Nasdaq Inc. plans to launch Bitcoin futures in the first half of 2018 and stockbroker Cantor Fitzgerald LP are looking to join the Wall Street race to market bitcoins in the form of derivatives based on the cryptocurrency in their exchange.
Having exceeded $ 11,000 per bitcoin this week, and with more than $ 300 billion of global market capitalization of cryptocurrencies, Nasdaq wants to offer its “whales” one more product to speculate with.
It is not that we like or dislike this news, but what is clear is that, if until now the volatility of cryptocurrencies was high in a framework in which large financial companies had not yet entered, imagine from the activation of this product of futures or any other, the large movements that can be produced, thus removing the real value of usability and functionality of the cryptocurrencies although, in counterpart, the knowledge of Bitcoin, cryptocurrencies and the blockchain will be expanded to those who They still did not know about it.
Nasdaq is a stock market of $ 6.8 billion, the second largest in the world by market capitalization, with NYSE being the largest.
We will also see now, as the central banks around the world say about the possible uses and risks of digital currencies, as more and more investors and more new money flood the cryptocurrencies.
Cantor Fitzgerald CEO Scott Matthews spoke publicly in a recent interview saying that:
“This asset class will not disappear.” If you look at the next level, it will be the institutions that enter and participate more in the market, especially as the liquidity improves. “
Once the institutional money flows and futures are traded, trading derivatives and an influx of money in search of quick returns will change the game. Corrections like the one we saw yesterday, could be the tip of the iceberg.
Since Cantor’s future exchange has already been approved by the CFTC, Matthews and his team would be the first to actively offer this type of product in the financial market.
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Editor and coordinator of the free book “La era de las BLOCK punto COM”
CEO of bitcoiner.today