The world's second largest stock exchange, National Association of Securities Dealers Automated Quotations (Nasdaq) plans U.S. derivatives contracts related to the digital currency as early as the second quarter of 2018. Cantor Fitzgerald LP intends to offer a bitcoin derivatives platform on its exchange around the same time.
However, NASDAQ is hardly the first player from the traditional finance world to launch bitcoin based futures. CME Group, the world’s largest derivatives exchange, and CBOE Holdings, have both announced their plans to launch futures products based on bitcoin this year, pending regulatory approval.
One of the ways the Nasdaq futures product will differ from CME’s and CBOE’s is that it will be based on an index that takes in prices from more than 50 bitcoin exchanges. CME has said it’s bitcoin future will be based on the CF Bitcoin Reference Rate (BRR), when CBOE will price its bitcoin future off the Gemini Trust.