Although the Securities and Exchange Commission (SEC) has been hesitant to provide the green light for cryptocurrencies and approve exchange-traded funds (ETFs), NASDAQ seems bolder in its stance towards crypto.
According to an exclusive procured by The ICO Journal, NASDAQ may be well on its way to being one of the first major institutions to provide futures trading for Bitcoin and Ethereum by 2019. The NASDAQ source in touch with The ICO Journal provided quite an insight into what is to come for the stock market. The source details:
“The conversation around listing coins has centred on how they will be classified from a regulatory standpoint. As you can imagine, our leadership is closely connected to the rumbling at the SEC and CFTC around cryptos and what is expected over the next 3-6 months. Even with the longest of time frames assumed, some guidance will be provided, and I expect we will act quickly. The framework (two different sets of the framework based on two different regulatory outcomes) has already been laid to create a separate silo for coin listings and a robust trading apparatus. Doing the math here, look for regulatory bodies to provide guidance in Q1 of 2019, and an announcement and a ‘coin exchange’ to either be announced or launched in Q2 of 2019.”
Coinedict reported back in 14th August how the Winklevoss Twins still maintained their sense of enthusiasm about Wall Street embracing cryptocurrency, even after having their Bitcoin ETF being denied twice by the SEC. We also reported in the article that Gemini, the Winklevoss twins’ digital asset platform, doubled its staff worldwide to ‘spread the reach of its operations’.
The information being detailed The ICO Journal’s NASDAQ source would seem to justify Gemini deciding to prepare itself for the projected growth by drastically increasing its staffing. As one would expect, no official word has been relayed by NASDAQ but provided the stock exchange’s tendency to be on the bleeding edge of technology; this move shouldn’t come as a surprise to many.