Nasdaq is set to launch bitcoin futures

• 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 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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