Nasdaq Could List Cryptocurrencies in 2019; Potentially in Q2
This week brought big news as sources say Nasdaq could be listing cryptocurrencies on its platform in 2019. This shows more interest from traditional financial institutions in entering the crypto world.
Nasdaq To List Cryptocurrencies?
In the long term, Nasdaq is working to potentially list cryptocurrencies and make them available for trading. At the moment, the details about this are not clear. However, a Nasdaq source explained that Bitcoin and Ethereum may be tradeable on its platform soon.
About it, the source commented:
“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 CFC around cryptos and what is expected over the next 3-6 months.”
This happens while the U.S. Securities and Exchange Commission is trying to build a clear regulatory environment for cryptocurrencies. However, it has taken a very hard stance toward crypto exchange-traded funds (ETF). Additionally, investors do not know how the SEC considers some virtual currencies such as XRP or Stellar.
If the SEC approves a regulatory framework for the first quarter of 2019, listing and trading virtual currencies could come in the second quarter.
“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,” the first source says. “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.
Nasdaq has also a strong relationship with the crypto exchange Gemini. This virtual currency platform was created by the Winklevoss brothers, Tyler and Cameron. Both of them have worked very closely with the SEC trying to be compliant with regulations.
Sources from the Gemini crypto exchange have also given their comments on the matter. They say that the listing and trading of virtual currencies could come earlier than expected. Some other sources have been more specific about the date for Nasdaq entering the market. Some sources speculate cryptocurrencies could be added to the platform during the second quarter of 2019.
That means that three different sources — two from Gemini – believe that Nasdaq could enter the crypto market during the second quarter of 2019.
[This story has been updated to reflect the current state of Nasdaq’s potential listing of cryptocurrencies]
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites, with over 2,000 articles published.