Nasdaq Considers Listing Cryptocurrencies Like Bitcoin on its Exchange
The Nasdaq, the second largest securities exchange in the world, commented recently on CNBC’s Squawk Box that it would consider hosting different cryptocurrencies, such as Bitcoin, on its exchange.
Adena Friedman is the CEO of Nasdaq and offered some thoughts, “I believe that digital currencies will continue to persist it’s just a matter of how long it will take for that space to mature. Once you look at it and say, ‘do we want to provide a regulated market for this?’ Certainly, Nasdaq would consider it.”
If this ever came to fruition it would open up crypto speculation to the mainstream masses. The Nasdaq currently sees trades totaling $500 billion+ every month and would be a huge bolster to Bitcoin and many other coin’s visibility. If listed, there would be accompanying financial instruments like options and futures, which could possibly open up even more aggressive gains and losses for eager crypto-investors.
Friedman did say that the main obstacle is government regulation of digital currencies. As of now, the currencies are in a bit of a grey area as the authorities struggle to figure out exactly how to deal with them as regulated securities. Until then, don’t expect Ethereum or Bitcoin to pop up on your E-trade account screen anytime soon.
The Nasdaq may not be moving to directly list cryptos on its exchange they are offering support via collaboration to exchanges that DO already facilitate traders looking to trade Bitcoin. Gemini,founded by the infamous Winklevoss twins, will be utilizing Nasdaq’s surveillance technology to provide a fair and “rules-based marketplace” for users of their platform.