Alleged NASDAQ Insider Source Affirms That Several Coin Listings Will Happen in 2019 in Q1 or Q2
It looks like NASDAQ is trying to be the first big mover in the crypto exchange’s entrance into the institutional space. As institutional investors are interested in entering the crypto market, NASDAQ is interested in helping them or so it seems. Now, as the company will dip its toes into the crypto waters, it is starting to look like there is a chance that the company might go all in.
Our information is that NASDAQ might be interested in listing some tokens into its exchange.
Bitcoin and Ethereum To Be Listed on NASDAQ?
While the details remain somewhat fuzzy and spotty at best, sources from inside NASDAQ have from a media outlet have affirmed that Bitcoin and Ethereum have a chance to be listed on NASDAQ. Earlier this year on June 21 we reviewed the Nasdaq DX Exchange hitting 500,000 users during pre-launch already. Now, it seems like more is leaking out to the public – here is the direct quote in which they said they received from their secret insider source – note: we haven't validated or tracked the source of this information:
“The conversation around listing coins has centered on how they will be classified from a regulatory standpoint. As you can imagine, our leadership is closely connected to the rumbling at the SEC and CFTC around cryptos and what is expected over the next 3-6 months. Even with the longest of time frames assumed, some guidance will be provided and I expect we will act quickly. The framework (two different sets of framework based on two different regulatory outcomes) has already been laid to create a separate silo for coin listings and a robust trading apparatus. Doing the math here, look for regulatory bodies to provide guidance in Q1 of 2019, and an announcement and a ‘coin exchange’ to either be announced or launched in Q2 of 2019.”
The source cited by the news site states that there is a conversation around listing coins and on how they will be classified from a regulatory standpoint.
As the SEC and the CFTC have ties with NASDAQ’s leadership, it is not hard to imagine that they might have some insight on what is going to happen in the following months. The company, according to this source, will “act quickly” and already has plans for how to deal with the market if two different regulatory frameworks happen.
It looks like the company might list the tokens or at least announce officially that it will do it by the beginning of 2019 and the launch will possibly happen until the half of the year.
NASDAQ And The Future of Cryptos
This is not necessarily a surprise. NASDAQ has connections with the Gemini Exchange and it has already shown some interest for the cryptocurrency market, as most big players in the financial field are doing right now. They also won a blockchain-based patent data matching system within the past year.
There is some speculation that the relation between the two companies might be used to list both Ethereum and Bitcoin (and maybe even some other tokens after them) on the exchange.
Sources from Gemini have stated that the NASDAQ leadership is already predisposed to finding solutions to list tokens on the company. In fact, not just the ETFs or futures, but actual tokens listed on NASDAQ. While this move is not 100% decided yet, it looks like there is a big chance that we might see the company moving into the crypto field in 2019.
Another source from Gemini has affirmed that NASDAQ and Gemini are very comfortable with each other and Gemini will double down its staff at the end of the year, which the source affirms that have to do with the NASDAQ partnership.
There is a fierce competition between the main financial companies like Intercontinental (ICE), CME, CBOE and all of them want the crypto market, so the whole theory actually makes a lot of sense.
According to these inside sources, it is very likely that we will see NASDAQ launching Ethereum and Bitcoin next year. Can we trust them? Follow our blog for developments on this story. In May, we had reported the DX Cryptocurrency Exchange Powered by NASDAQ would be launching in June – so we will see if the start of 2019 brings fireworks as mainstream cryptocurrency adoption continues its upward trend.