2018-11-29 14:59 |
Chairman of the New York Stock Exchange Jeff Sprecher recently praised Bitcoin and other digital currencies. It’s is worth noting that Intercontinental Exchange, operator of the NYSE, is launching Bitcoin futures contracts in January next year.
Wall Street Moves Closer to BitcoinSprecher is also the CEO of Intercontinental Exchange which will be introducing Bitcoin futures soon, despite the mainly falling prices we’ve seen this year. He noted that the digital currencies have a future in regulated financial markets. Talking at the Consensus: Invest conference on Tuesday, he said:
“As an exchange operator it’s not our objective to opine on prices.”
Intercontinental exchange is backing a new company Bakkt, along with BCG, Microsoft, and Starbucks to facilitate trading in Bitcoin futures in the first quarter of 2019. Though the launch was initially set for November 2018, the company is pushing it back to January next year.
Kelly Loeffler, Bakkt CEO said that the initial timeline of the project was ambitious. She noted that in order to give people time to get on board and give this project a better chance of success, the date of release was pushed until after the holidays are over. She said:
“It’s a positive indication of the interest, and it gives people time to learn. We have a responsibility to do that, so we’re taking that extra time.”
Will Bitcoin Get More Support With Bakkt?Bakkt is regulated by the Commodity Futures Trading Commission and seeks to provide price discovery as well as custody for Bitcoin, free from manipulation and fraud. This contrasts with the current situation for traders, where depending on the exchange, the price of Bitcoin tends to fluctuate, and many of them are unregulated.
Loeffler further noted that they are creating an infrastructure that doesn’t exist in the crypto markets and establishing an opportunity for the institutional investors to jump on the crypto bandwagon.
The Bitcoin futures contract debuting in January will settle in Bitcoin, unlike the existing Cboe and CME contracts which settle in cash. The launch coincides with that of other futures offering, provided by NASDAQ and VanEck, which will also debut in the first quarter of 2019.
NYSE Chairman Not Concerned by Bear Market, Says Bitcoin Is Here to Stay was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
Similar to Notcoin - Blum - Airdrops In 2024
Bitcoin (BTC) на Currencies.ru
|
