In a recent interview with Bloomberg at the World Economic Forum in Davos, Nasdaq’s CEO Adena Friedman confirmed that the world’s second largest stock exchange is considering launching Bitcoin (BTC) futures on its platform. Friedman stated that Nasdaq has “been working with the industry to look at whether or not it’s the right thing for us to do right now.” Specifically Friedman mentioned criteria that the Nasdaq must review before launching a BTC futures product. Nasdaq wants to ensure that their product would offer something unique over competitors, citing that “We already have two Bitcoin futures out there…If you’re going to create a product, you want to know that people are going to use it, and use it differently than how it’s being used today.”
As Nasdaq continues its due diligence, there seems to be undeniable interest in this product fromm all parties. Embracing the rise of digital assets, Friedman has stated that the“view is that digital currencies and cryptocurrencies will have a role in the global economy. The question is will they mature to a state that really is used for the transfer of goods. But in the meantime, we think that there’s certainly a lot of demand out there for that indicative price and that ability to trade it.”
The Nasdaq and its subsidiaries have previously launched crypto products, as first euro-denominated Bitcoin exchange-traded note (ETN), Bitcoin tracker EUR, was launched on the Nasdaq Nordic in 2015. Additionally, an Etherum ETN has also been trading on the Nasdaq Nordic since 2017. With the Nasdaq indicating that it has evolved into a crypto-friendly platform, it remains to be seen whether a Bitcoin Futures launch is inevitable in the near future. Regardless, these recent developments should excite stakeholders in the digital assets space, as yet another major institution seeks to become a part of this rapidly growing ecosystem.