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  • Nasdaq, the exchange operator based in New York, is preparing to launch a bitcoin futures contracts.
  • Bitcoin, the red-hot cryptocurrency, soared over $11,000 on Wednesday.
  • Bitcoin futures would allow investors to bet on the future price of bitcoin.

Nasdaq is hopping on the bitcoin bandwagon.

The exchange operator is set to launch a bitcoin futures product next year, a person familiar with the matter told Business Insider.

Two Chicago-based exchanges, CME and Cboe, have announced their own bitcoin futures products. Such products would allow investors to bet on the future price of bitcoin. They would also likely dampen bitcoin’s spine-tingling volatility and help the coin further push into the mainstream.

Bitcoin has been on a tear since the US Thanksgiving holiday, blowing past $10,000 on Monday and then $11,000 on Tuesday.

It is up more than 900% year-to-date.

The story is breaking. Check back for updates.

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