Nasdaq will partner with VanEck to launch Bitcoin futures in early 2019 as the exchange enters the digital asset world for the first time.
VanEck’s director, digital asset strategy, Gabor Gurbacs, made the announcement on stage at Consensus Invest in New York, claiming “this might be one of the partnerships of the year.”
Gurbacs said they intend to bring a “regulated crypto 2.0 futures-type contract”.
Nasdaq follows exchange counterparts CME and Cboe into the cryptocurrency derivatives space.
“Nasdaq has chosen and picked us to provide indices for the upcoming digital asset projects,” Gurbacs said.
Despite the dropping price of Bitcoin, Gurbacs said there is still a lot of interest from institutional investors.
“Right now we don’t care if it is at $3,000 or $2,000, they want the market infrastructure in the right place,” he added. “2018 was the year of regulation, 2019 is the year of implementation.”
“Right now, the digital asset markets are 90% retail. The current infrastructure is not ready quite yet for institutional investors to meaningfully come in. We took up the task of building up proper market structure for digital assets.”