NASDAQ Creates Crypto Futures, Cantor Fitzgerald Backs Bitcoin Derivativesbr>
Nasdaq Inc. will create a bitcoin futures platform, according to The Wall Street Journal, while broker Cantor Fitzgerald will start trading bitcoin derivatives on an exchange it owns. Both are set for the first half of 2018.
The second-largest stock exchange in the world, NASDAQ’s move will allow investors to bet on the rise and fall of cryptocurrencies. The predictions will be interesting, as cryptocurrencies like bitcoin have been known to move as much as $2,000 in a few days, based on apparently little more than market whims.
NASDAQ is not the first major financial player to get into the futures game. Earlier this month, Chicago’s CME Group said it would begin providing futures contracts on bitcoin as well.
Cantor Fitzgerald’s play will allow investors to place bets on bitcoin without owning it.