NASDAQ Testing BTC/USD Trading


NASDAQ Testing BTC/USD Trading

“Adoption in Action”

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By Block Society

On April 22nd an analyst from StrongMarket, a quantitative trading analytics service, tweeted that he purchased one bitcoin through his retail TD Ameritrade account under the symbol CXERX.  CXERX represents the BTC/USD pair and has a chart that dates back to April 10th of this year.  This raised lots of questions, and the analyst contacted TD Ameritrade customer support——but customer support declined to comment on the matter. 

Why is this important? 

Opening the bitcoin trading on the Nasdaq would expose it to institutional investors and bring more legitimacy to the cryptocurrency market as a whole. 

 

The daily trade volume stats for April 23rd on the Nasdaq alone was $116,607,992,815 compared to the $53,454,150,713 total volume of cryptocurrency trading spread over all exchanges.  This means more money would be able to reach bitcoin than before.

This would pave the path for more cryptocurrencies to be listed on traditional exchanges, and would put crypto on the fast track for SEC regulation.

Sources: https://cointelegraph.com/news/nasdaq-is-quietly-testing-bitcoin-based-product-under-cxerx-indice-analyst-suggests

 

https://coinmarketcap.com/charts/

 
 

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