Nasdaq is exploring Bitcoin futures

The CEO of Nasdaq has revealed that it is looking into how it can offer digital currency futures that are different to Cboe and CME offerings.

Speaking to CNBC, Adena Friedman confirmed earlier reports that the Nasdaq is looking into bitcoin futures, but did not give a timeline for a launch or if it will definitely happen. Though her comments suggest that the development of a product is indeed happening.

“We are continuing to investigate the idea of a cryptocurrency futures (contract) with a partner and we continue to look at the risk management around that, making sure we are putting the right protocols in place, making sure there’s proper demand, and that the contract is different from what’s already out there,” Friedman told CNBC.

According to Friedman, though, the Nasdaq futures will be ‘more of an investment than a tracking stock,’ adding: “What we might look at is more of a total return futures, so it’s a little bit of a different construct.”

However, before approaching the U.S. Commodity Futures Trading Commission (CFTC), Nasdaq will first need to determine whether there is a client demand for it and if they feel confident enough to go ahead.

In recent weeks the digital currency market has seen prices plummet, the most obvious of them all being bitcoin. Last month, the cryptocurrency was within touching distance of $20,000 for the first time. However, at the time of publishing it is trading at $11,247, according to CoinMarketCap. A major selloff and increased global regulatory pressure has seen market prices affected.

Despite this, though, many industry players still have faith in where the value of bitcoin is going.

According to Dave Chapman, managing director of cryptocurrency trading firm Octagon Strategy, he has predicted that the price of the digital currency will exceed $100,000 by the end of 2018. Chapman previously projected that bitcoin would past the $10,000 mark before the end of 2017.