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Nasdaq Plans to Set Up Bitcoin Futures in First Half of 2018

© AFP 2021 / JEWEL SAMAD A trader works at the Nasdaq MarketSite in New York
A trader works at the Nasdaq MarketSite in New York - Sputnik International
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US stock exchange Nasdaq considers launching bitcoin cryptocurrency futures in the first half of 2018, local media reported on Wednesday, citing its sources familiar with the situation.

MOSCOW (Sputnik) — According to The Wall Street Journal, Nasdaq’s contract on bitcoin, which has soared up to $11,000, would be traded on Nasdaq Futures (NFX), a marketplace, established in 2015 and until now dealing with the energy sector.

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Additionally, Cantor, a global financial services firm, is planning to launch its bitcoin derivatives, which would allow traders to swap bitcoin prices up to three months out with protection of their losses in case the cryptocurrency rockets above $15,000 or below $5,000, according to the newspaper.

The introduction of bitcoin futures would reportedly be a step toward the maturity of the young cryptocurrency, since it would make the bitcoin trade easier both for major banks and private investors. However, financial institutions are avoiding dealing with bitcoin due to its notorious volatility and associations with illegal activity, the newspaper added.

Bitcoin is one of the most popular cryptocurrencies, which allows users to make secure payments for goods and services online. It was introduced in 2009 as an independent alternative to government-backed currencies.

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