Despite the fall in cryptocurrency quotes, US financial institutions are not losing optimism. The Nasdaq exchange plans to begin trading in Bitcoin futures in 2019, and the head of the New York Stock Exchange (NYSE), Jeffrey Sprecher, has declared his belief in a cryptocurrency.
According to the CME Group, cryptocurrency trading volumes continue to grow. Compared to last year, the increase was 41%. However, those fluctuations in the charts that investors saw in November could shake the interest of market players.
But that did not happen. One of the largest trading floors in the world, the Nasdaq Exchange, did not begin to change its plans to launch Bitcoin futures. This will happen in the first quarter of 2019. It now remains to coordinate some technical issues with the Commodities Futures Trading Commission. Some problem is the fact that real Bitcoin is traded on a huge number of sites, with a significant variation in price.
VanEck is involved in its solution. Its unified platform, Bakkt, will allow you to receive current quotes.
According to many experts, the emergence of Bakkt will completely change the situation in the cryptocurrency market. Now institutional investors are actually deprived of the opportunity to open positions on bitcoin. The reason is the low liquidity of the available financial instruments. The launch of a single platform will fundamentally change their attitude to cryptocurrencies. The source of the data on the objective value of the asset and significant trade turnover will appear.
Some experts have attributed the drop in quotations to the transfer of the launch of Bakkt to a later date. It was expected that in November 2018, the company will begin trading in cryptocurrencies. However, this did not happen for a number of reasons. And now the platform will take effect from January 2019.
As Jeffrey Sprecher, head of the New York Stock Exchange (NYSE), said, the future of cryptocurrency is beyond doubt. However, he cannot say exactly how much an asset will cost.