Frankfurt Stock Exchange operator Deutsche Boerse has announced that it is 'deep at work' on understanding the flagship cryptocurrency Bitcoin to potentially add it to the stock market. The inclusion could see assets like cryptocurrency futures and related products to widen investment exposure.
Speaking at the Association of Financial Markets in London, Jeffrey Tessler, head of clients for Deutsche Boerse has expressed reservations towards the inclusion of cryptocurrencies to the exchange. While deeper discussions were underway, their inclusion must be met with a significant level of caution, Tessler said in an interview with Bloomberg.
“Before we move forward with anything like Bitcoin we want to make sure we understand the underlying transaction which isn’t the easiest thing to do. We want to understand the volatility and make sure clients are in line and make sure regulators are in line.”
The Deutsche Boerse has been considering including Bitcoin futures, according to a local news source, days after other exchanges added them. As reported by CryptoGlobe, the CME has also been gauging investor interest to add Ethereum futures contracts to its platform
Boerse has stated that the ongoing risks weigh heavily on any decision to include bitcoin futures or other products onto the market. Among these concerns is the cryptocurrency’s volatility, as Tessler stated that “we want to understand the volatility and make sure clients are in line and make sure regulators are in line.”
Bitcoin has seen its price drop from a mid-December all-time high of nearly $20,000, to a low of little under $7,000, according to data from CryptoCompare. At press time, the flagship cryptocurrency is trading at about $7,550.