Nasdaq bitcoin futures plan is still in the “exploration stage”

nBankruptcy commentary: The news about the Nasdaq will launch bitcoin futures, the agency’s chief executive Adena Friedman has publicly responded. While acknowledging that the company is interested in joining the new field, she is still only in the exploratory stage, and whether the product will be released or not and whether it is available will be unknown. However, according to her, Nasdaq hopes to introduce innovative products to differentiate itself from CME and CBOE products if it is to launch bitcoin futures.n
nTranslation: Inan
NASDAQ President and CEO Adena Friedman said on Tuesday that the Nasdaq is investigating whether the Bitcoin contract should be introduced and how it should be introduced, but these plans are still “in the exploratory phase.”n
While Friedman attends the World Economic Forum in Davos, Switzerland, accredited reports that Nasdaq is interested in launching bitcoin futures, she corrected some of the inaccuracies and said the plans are far from real.n
Friedman told Fox Business Channel host Maria Bartriomo:n
n”We’re still in exploration mode right now, so we’ve been talking to our clients, and we want to make sure that we have two things to choose when we choose to enter the market by offering this kind of futures: first, the customer has the need; and second, he’s ready Proper risk management protocols give people confidence in our products and how they can be made into investable products, so we’re still in the exploratory stage of working with them. “n
nThe Wall Street Journal has previously reported that Nasdaq will be listed in the first half of this year, bitcoin futures. Although Friedman gave no specific time, her remarks cast doubt on the timing of the coverage.n
As of this writing, the only US exchanges that offer Bitcoin futures are the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE). The New York Stock Exchange (NYSE) has submitted a listing of several Bitcoin ETFs, but it has not yet introduced its own cryptocurrency futures product.n
One reason Nasdaq has postponed offering these products is that it wants to be able to launch products that are different from the CME and CBOE bitcoin futures contracts.n
In a conversation with CNBC, Friedman mentions that Nasdaq products may track the spot exchange rate instead of futures prices, which she said will make the product more investment-oriented.n
she says:n
n”What we consider may be more like a total return futures, so its structure will be somewhat different.” She also pointed out that this means that the product “is more like an investment than a stock tracking.”n
nOf course, Nasdaq and other exchanges that want to list encrypted cryptocurrencies may face more regulatory hurdles than CME and CBOE when launching the product. The U.S. Commodity Futures Trading Commission (CFTC) criticized the disposal of the first batch of cryptocurrency futures, and the agency responded that it would “scrutinize” the emerging products.n

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