Nasdaq And VanEck Unite To Launch Bitcoin Futures and More

Wilfred Michael 

Wilfred Michael

News reporter

30 November 2018,
Nasdaq And VanEck Unite To Launch Bitcoin Futures and More

Gabor Gurbacs, the director of Digital Assets Strategy at U.S investment firm VanEck, revealed while on stage at the Consensus: Invest Crypto conference in New York City on Nov 27, that his firm is partnering with major stock exchange Nasdaq.

The goal of the new partnership is to “bring to market transparent, regulated and surveilled digital assets products, such as Bitcoin futures contracts” according to the update.

Gabor’s later tweeted to this regard which is ultimately a confirmation of our previous report that Nasdaq was planning to launch a Bitcoin Futures contract in Q1 2019. The new partners will now use each other's expertise to make the new offering as well as some other digital asset products possible.

VanEck will use its digital asset pricing indices called MVIS to complement Nasdaq SMARTs Market Surveillance system in the development phase of the Bitcoin Futures contract. However, It is yet to be known whether returns on the contract will be physically-settled (paid in BTC) or backed with cash.

Additionally, an approval from the Commodity Futures Trading Commission (CFTC) is needed before the offering goes live in 2019 as we revealed earlier.


VanEck Steps Up Crypto Products Offering

Aside from the proposed Bitcoin Futures Contract to be offered in partnership with Nasdaq, VanEck still has a pending proposal filed in collaboration with blockchain Firm SolidX to launch a Bitcoin ETF that will trade on the Chicago Board Options Exchange(CBOE).

The U.S SEC postponed giving its approval or denial in September and is not expected to issue a decision until February 2019.

With a possible Bitcoin ETF, a Bitcoin Futures Contract and other “regulated and surveilled digital assets products” in the pipeline, VanEck is now ideally placed to lead the introduction of more institutional investors into the industry.

Time will now tell which products will be granted approval and how big a year, 2019 will be for the crypto markets.