Altcoin News: We May Soon Trade Bitcoin on the Nasdaq Exchange

April 24, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

On the well-known US stock exchange Nasdaq, a new financial product associated with Bitcoin may soon appear.

This was reported by a specialist in quantitative analysis, known on the social network Twitter under the nickname Cryptopolis. On Monday morning, trading on the TD Ameritrade broker website, he discovered a Bitcoin-related financial instrument under the ticker “CXERX”, which was reportedly presented on the Nasdaq.

“BTC is now being traded on the Nasdaq! I bought one BTC through my TDAmeritrade account! According to the chart it started trading April 10, 2019!! Other digital assets are soon to follow!” he wrote.

Image credit: Cryptopolis Twitter

Cryptopolis also published details of the correspondence with the broker’s support service, during which a representative of TD Ameritrade said that at the moment such products are not presented on the platform, and the only instrument of this kind is a Bitcoin futures contract that is traded on the platform under the XBT ticker.

Then Cryptopolis suggested that, in fact, his deal was not brought to the open market, and was merely testing new functionality. A customer service representative noted that this option seems most likely.

Based on the above information, we can assume that the instrument being tested by TD Ameritrade is an early version of the Nasdaq futures contract on the Bitcoin exchange. This information is also confirmed by the fact that talks about the launch of this derivative have been going on for a long time.

The first reports that the management of the exchange plans to add support for Bitcoin futures in the first quarter of 2019 appeared in November 2018. It was not possible to fulfill the previously announced launch, but this does not mean that the company completely abandoned this idea. Moreover, representatives of the exchange are quite loyal to cryptocurrency, as repeatedly stated earlier.

In December, Nasdaq’s vice president of public affairs, Joseph Christinat, confirmed Bloomberg’s information, noted that they would need the approval of the Commodity Futures Trading Commission (CFTC) to launch the tool.