American stock exchange, Nasdaq has confirmed it is investigating the feasibility of launching bitcoin futures contracts. CEO, Adena Friedman explained that the stock market is exploring the idea with a partner as well as analysing the potential risks associated with such a move.

It comes after CME Group and Cboe, competitors of Nasdaq, both revealed they were also working on bitcoin futures contracts. However, Friedman has explained that Nasdaq is proposing a unique contract, unlike anything that is already out there. She continued to say that CME and Cboe work by following the trading price of bitcoin, operating in reference to the future value. However, the Nasdaq claims their plan is less tracking stock and more investment based, suggesting that the product may trace a spot rate

After a hugely successful 2017, it appears that bitcoin and other cryptocurrencies have had a difficult start to 2018. This has led to many officials condemning cryptocurrencies. Jamie Dimon, the CEO of J.P. Morgan previously described Bitcoin as a fraud and Warren Buffett also said that cryptocurrencies would have a bad ending.

However, it hasn’t stopped many from speculating about the potential rise of such digital currencies in 2018. Co-founder of TenX, Julian Hosp said that he feels the value of cryptocurrency could rise to $60,000 but may crash beforehand. Similarly, MD of Octagon Strategy, Dave Chapman said the price of bitcoin could rise $100,000 this year.