Nasdaq, the second-biggest stock exchange in the world is reportedly testing bitcoin trading, according to a tweet posted early today by Cryptopolis, a trading analyst from StrongMarket.
BREAKING: 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!! 🚀🚀🚀 pic.twitter.com/1VgE1Whoa4
— Cryptopolis (@cryptopolis_x) April 22, 2019
Then he quickly posted an update followed by a screenshot with the chat he had with the platform support:
“UPDATE: According to TD Ameritrade support – it’s not a real trade in my account – it appears they are testing only using their Paper Trading platform. Support said “I’m not able to speak on it” -They did not know what CXERX is. Strange… But something is going on for sure!”
Cryptopolis said that bitcoin was trading on the platform against USD under the name “CXERX,” which appears to be listed on Nasdaq. The analyst included that according to the chart history the BTC/USD pair was added on April 10, 2019.
The finding was confirmed also by Charlie Lee the Litecoin creator adding that Litecoin too was being tested in the platform.
Just saw that TD Ameritrade is testing both BTC and LTC trading on its brokerage platform. 😲 🚀 pic.twitter.com/TVo39oECeH
— Charlie Lee [LTC⚡] (@SatoshiLite) April 23, 2019
In November we reported that Nasdaq was implementing a new technology that is already used by many exchanges and aims to stop the cryptocurrency market manipulation. It has also been reported by Cointelegraph that Nasdaq has plans for adding bitcoin futures in the first half of 2019.
Bitcoin price has been going up by nearly 5% in the last 24 hours and is trading at $5,600 according to CoinMarketCap.com. Many people seem to be enthusiast according to comments on Twitter about the eventual launch of bitcoin futures from Nasdaq.
It is worth to mention that futures were not a good thing for bitcoin and cryptocurrencies in general. The Bitcoin paper supply that futures create, does not create demand on spot exchanges. So prices might go down if new Fiat settled futures are launched. Also is well known what derivative markets have done to precious metal markets, suppressing the price for years. The good news would be if Bitcoin settled futures are launched like Bakkt for example.
Do you think Nasdaq adding futures will be a positive thing for bitcoin? Feel free to post your opinion in the comments below.