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Gabor Gubacs confirms rumor about Nasdaq Bitcoin Futures
Information received by Ethereum World News earlier in the day has alluded to the rumor that Nasdaq, one of the world's largest financial markets, has begun work on an internal futures contract, Bitcoin (BTC). Although this was probably a bullish development, at the time of the Bloomberg report, the information had been leaked by two supposedly knowledgeable people.
To clarify, Gabor Gubacs, Digital Resources Strategist / Head of VanEck (the firm behind the main Bitcoin ETF proposal), has moved into CoinDesk's Consensus Invest, commenting on the news.
Great ad on stage at #ConsensusInvest: @gaborgurbacs reveals that VanEck has partnered with the Nasdaq to "put a regulated crypto 2.0 contract on the market".
– CoinDesk (@coindesk) November 27, 2018
On the Twitter channel of CoinDesk, on stage, in front of a crowd of hundreds of people, Gurbacs revealed that VanEck is partnering with Nasdaq, based in New York, to "market a regulated contract type crypto 2.0 futures."
However, as with Bloomberg's initial statement in this regard, there has been little disclosure of VanEck's and Nasdaq's collaborative efforts, which could indicate that innovative functions could be kept under lock and key.
And because of the apparent discretion, many people quickly resorted to speculation. Some wondered whether Nasdaq's instrument would use the "physical" BTC in detention, contrary to the future of CBOE and CME, but the launch of the Bakkt vehicle planned for late January. Once again, it is unclear whether Nasdaq plans to implement such a program, which complicates Bitcoin futures, but since the exchange is relatively favorable to the channel and crypto, the physical medium , ranked as a positive price catalyst Bitcoin, is not out of the realm of possibility.
Bloomberg said the America-centric platform planned to launch its first noticeable cryptographic incursion by the first quarter of 2019, pending the green light from the US CFTC.
Despite the bear market of crypto, institutions go from the front
It is interesting to note that this strong institutional breakthrough occurs in a bear market environment, which has seen the overall value of cryptographic assets plummet by $ 100 billion (40%) over the last two and a half weeks. This does not only mean that there is still room for cryptographic assets to grow, but it is likely that investors will wait outside the vehicle, product, platform or service.
Angel Versetti, CEO of Ambrosus, recently addressed this topic with the UK independent, as previously reported by Ethereum World News.
Versetti remarked that he "does not believe [that] we are or were close to a bubble with cryptocurrency. The blockchain CEO then added that the arrival of major institutional players, whom he nicknamed "bankers" and "financiers," indicates that the first real bubble in the industry is on the horizon, and could even be doing as he made his statement.
This vision of the world was not limited to one specialist in the sector, as others, including Bitpay's Sonny Singh, also spoke of the importance of institutional incursions in this nascent sector. Speaking with Bloomberg, Singh explained that products like a US-based, regulated ETF, Bakkt's full-fledged platform, and other promising companies will generate more than $ 15,000 to $ 20,000 in cash. bitcoin during the 2019 financial year.
Title provided by Colton Duke on Unsplash
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