For this is my blood of the new testament, which is shed for many for the remission of sins.

For this is my blood, that of the new covenant, that shed for many for remission of sins.

For this is my blood of the new testament, which is shed for many for the remission of sin.

for this is my blood of the new covenant, that for many is being poured out, to remission of sins;

for this is my blood which is to be poured out for many for the remission of sins - the blood which ratifies the Covenant.

Take of it, all of you, for this is my blood of the testament, which is given for men for the forgiveness of sins.

for this is my covenant blood, which is poured out for many for the forgiveness of sins.

For this is my blood - This "represents" my blood, as the bread does my body.
Luke and Paul vary the expression, adding what Matthew and Mark have omitted. "This cup is the new testament in my blood." By this cup he meant the wine in the cup, and not the cup itself. Pointing to it, probably, he said, "This - 'wine' - represents my blood about to be, shed." The phrase "new testament" should have been rendered "new covenant," referring to the "covenant or compact" that God was about to make with people through a Redeemer. The "old" covenant was that which was made with the Jews by the sprinkling of the blood of sacrifices. See Exodus 24:8; "And Moses took the blood and sprinkled it on the people, and said, Behold the blood of the covenant which the Lord hath made with you," etc. In allusion to that, Jesus says, this cup is the new "covenant" in my blood; that is, which is "ratified, sealed, or sanctioned by my blood." In ancient times, covenants or contracts were ratified by slaying an animal; by the shedding of its blood, imprecating similar vengeance if either party failed in the compact. See the notes at Hebrews 9:16. So Jesus says the covenant which God is about to form with people the new covenant, or the gospel economy is sealed or ratified with my blood.
Which is shed for many for the remission of sins - In order that sins may be remitted, or forgiven. That is, this is the appointed way by which God will pardon transgressions. That blood is efficacious for the pardon of sin:
1. Because it is "the life" of Jesus, the "blood" being used by the sacred writers as representing "life itself," or as containing the elements of life, Genesis 9:4; Leviticus 17:14. It was forbidden, therefore, to eat blood, because it contained the life, or was the life, of the animal. When, therefore, Jesus says that his blood was shed for many, it is the same as saying that His life was given for many. See the notes at Romans 3:25.
2. His life was given for sinners, or he died in the place of sinners as their substitute. By his death on the cross, the death or punishment due to them in hell may be removed and their souls be saved. He endured so much suffering, bore so much agony, that God was pleased to accept it in the place of the eternal torments of all the redeemed. The interests of justice, the honor and stability of his government, would be as secure in saving them in this manner as if the suffering were inflicted on them personally in hell. God, by giving his Son to die for sinners, has shown his infinite abhorrence of sin; since, according to his view, and therefore according to truth, nothing else would show its evil nature but the awful sufferings of his own Son. That he died "in the stead or place" of sinners is abundantly clear from the following passages of Scripture: John 1:29; Ephesians 5:2; Hebrews 7:27; 1-John 2:2; 1-John 4:10; Isaiah 53:10; Romans 8:32; 2-Corinthians 5:15.

For this is my blood of the New Testament - This is the reading both here and in St. Mark; but St. Luke and St. Paul say, This cup is the New Testament in my blood. This passage has been strangely mistaken: by New Testament, many understand nothing more than the book commonly known by this name, containing the four Gospels, Acts of the Apostles, apostolical Epistles, and book of the Revelation; and they think that the cup of the New Testament means no more than merely that cup which the book called the New Testament enjoins in the sacrament of the Lord's Supper. As this is the case, it is highly necessary that this term should be explained. The original, Η Καινη Διαθηκη, which we translate, The New Testament, and which is the general title of all the contents of the book already described, simply means, the new Covenant. Covenant, from con, together, and venio, I come, signifies an agreement, contract, or compact, between two parties, by which both are mutually bound to do certain things, on certain conditions and penalties. It answers to the Hebrew ברית berith, which often signifies, not only the covenant or agreement, but also the sacrifice which was slain on the occasion, by the blood of which the covenant was ratified; and the contracting parties professed to subject themselves to such a death as that of the victim, in case of violating their engagements. An oath of this kind, on slaying the covenant sacrifice, was usual in ancient times: so in Homer, when a covenant was made between the Greeks and the Trojans, and the throats of lambs were cut, and their blood poured out, the following form of adjuration was used by the contracting parties: -
Ζευ κυδιϚε, μεγιϚε, και αθανατοι θεοι αλλοι,
Οπποτεροι προτεροι υπερ ορκια πημηνειαν,
Ωδε σφ' εγκεφαλος χαμαδις ρεοι, ως οδε οινος,
Αυτων, και τεκεων· αλοχοι δ' αλλοισι μιγειεν.
All glorious Jove, and ye, the powers of heaven!
Whoso shall violate this contract first,
So be their blood, their children's and their own,
Poured out, as this libation, on the ground
And let their wives bring forth to other men!
Iliad l. iii. v. 298-301
Our blessed Savior is evidently called the Διαθηκη, ברית berith, or covenant sacrifice, Isaiah 42:6; Isaiah 49:8; Zac 9:11. And to those Scriptures he appears to allude, as in them the Lord promises to give him for a covenant (sacrifice) to the Gentiles, and to send forth, by the blood of this covenant (victim) the prisoners out of the pit. The passages in the sacred writings which allude to this grand sacrificial and atoning act are almost innumerable. See the Preface to Matthew.
In this place, our Lord terms his blood the blood of the New covenant; by which he means that grand plan of agreement, or reconciliation, which God was now establishing between himself and mankind, by the passion and death of his Son, through whom alone men could draw nigh to God; and this New covenant is mentioned in contradistinction from the Old covenant, η παλαια Διαθηκη, 2-Corinthians 3:14, by which appellative all the books of the Old Testament were distinguished, because they pointed out the way of reconciliation to God by the blood of the various victims slain under the law; but now, as the Lamb of God, which taketh away the sin of the world, was about to be offered up, a New and Living way was thereby constituted, so that no one henceforth could come unto the Father but by Him. Hence all the books of the New Testament, which bear unanimous testimony to the doctrine of salvation by faith through the blood of Jesus, are termed, Η Καινη Διαθηκη, The New covenant. See the Preface.
Dr. Lightfoot's Observations on this are worthy of serious notice.
"This is my blood of the New Testament. Not only the seal of the covenant, but the sanction of the new covenant. The end of the Mosaic economy, and the confirming of a new one. The confirmation of the old covenant was by the blood of bulls and goats, Exodus 24, Hebrews 9, because blood was still to be shed: the confirmation of the new was by a cup of wine, because under the new covenant there is no farther shedding of blood. As it is here said of the cup, This cup is the New Testament in my blood; so it might be said of the cup of blood, Exodus 24, That cup was the Old Testament in the blood of Christ: there, all the articles of that covenant being read over, Moses sprinkled all the people with blood, and said, This is the blood of the covenant which God hath made with you; and thus the old covenant or testimony was confirmed. In like manner, Christ, having published all the articles of the new covenant, he takes the cup of wine, and gives them to drink, and saith. This is the New Testament in my blood; and thus the new covenant was established." - Works, vol. ii. p. 260.
Which is shed (εκχυνομενον, poured out) for many - Εκχεω and εκχυω, to pour out, are often used in a sacrificial sense in the Septuagint, and signify to pour out or sprinkle the blood of the sacrifices before the altar of the Lord, by way of atonement. See 2-Kings 16:15; Leviticus 8:15; Leviticus 9:9; Exodus 29:12; Leviticus 4:7, Leviticus 4:14, Leviticus 4:17, Leviticus 4:30, Leviticus 4:34; and in various other places. Our Lord, by this very remarkable mode of expression, teaches us that, as his body was to be broken or crucified, υπερ ημων, in our stead, so here the blood was to be poured out to make an atonement, as the words, remission of sins, sufficiently prove for without shedding of blood there was no remission, Hebrews 9:22, nor any remission by shedding of blood, but in a sacrificial way. See the passages above, and on Matthew 26:26 (note).
The whole of this passage will receive additional light when collated with Isaiah 53:11, Isaiah 53:12. By his knowledge shall my righteous servant justify Many, for he shall bear their iniquities - because he hath Poured Out his soul unto death, and he bare the sin of Many. The pouring out of the soul unto death, in the prophet, answers to, this is the blood of the new covenant which is poured out for you, in the evangelists; and the רבים, rabbim, multitudes, in Isaiah, corresponds to the Many, πολλων, of Matthew and Mark. The passage will soon appear plain, when we consider that two distinct classes of persons are mentioned by the prophet.
1. The Jews. Isaiah 53:4. Surely he hath borne Our griefs, and carried Our sorrows. Isaiah 53:5. But he was wounded for Our transgressions, he was bruised for Our iniquities, the chastisement of Our peace was upon him. Isaiah 53:6. All We like sheep have gone astray, and the Lord hath laid upon him the iniquity of Us all.
2. The Gentiles. Isaiah 53:11. By his knowledge, בדעתו bedaato, i.e. by his being made known, published as Christ crucified among the Gentiles, he shall justify רבים rabbim, the multitudes, (the Gentiles), for he shall (also) bear Their offenses, as well as Ours, the Jews, Isaiah 53:4, etc.
It is well known that the Jewish dispensation, termed by the apostle as above, η παλαια διαθηκη, the Old covenant, was partial and exclusive. None were particularly interested in it save the descendants of the twelve sons of Jacob: whereas the Christian dispensation, η καινη διαθηκη, the New covenant, referred to by our Lord in this place, was universal; for as Jesus Christ by the grace of God tasted death for Every man, Hebrews 2:9, and is that Lamb of God that taketh away the sin of the World, John 1:29, who would have All Men to be saved, and come to the knowledge of the truth, 1-Timothy 2:4, even that knowledge of Christ crucified, by which they are to be justified, Isaiah 53:11, therefore he has commanded his disciples to go into all the world, and preach the Gospel to Every Creature, Mark 16:15. The reprobate race, those who were no people, and not beloved, were to be called in; for the Gospel was to be preached to all the world, though it was to begin at Jerusalem, Luke 24:47. For this purpose was the blood of the new covenant sacrifice poured out for the multitudes, that there might be but one fold, as there is but one Shepherd; and that God might be All and in All.
For the remission of sins - Εις αφεσις αμαρτιων, for (or, in reference to) the taking away of sins. For, although the blood is shed, and the atonement made, no man's sins are taken away until, as a true penitent, he returns to God, and, feeling his utter incapacity to save himself, believes in Christ Jesus, who is the justifier of the ungodly.
The phrase, αφεσις των αμαρτιων, remission of sins, (frequently used by the Septuagint), being thus explained by our Lord, is often used by the evangelists and the apostles; and does not mean merely the pardon of sins, as it is generally understood, but the removal or taking away of sins; not only the guilt, but also the very nature of sin, and the pollution of the soul through it; and comprehends all that is generally understood by the terms justification and sanctification. For the use and meaning of the phrase αφεσις αμαρτιων, see Mark 1:4; Luke 1:77; Luke 3:3; Luke 24:47; Acts 2:38; Acts 5:31; Acts 10:43; Acts 13:38; Acts 26:18; Colossians 1:14; Hebrews 10:18.
Both St. Luke and St. Paul add, that, after giving the bread, our Lord said, Do this in remembrance of me. And after giving the cup, St. Paul alone adds, This do ye, as oft as ye drink it, in remembrance of me. The account, as given by St. Paul, should be carefully followed, being fuller, and received, according to his own declaration, by especial revelation from God. See 1-Corinthians 11:23, For I have received of the Lord that which also I delivered unto you, etc. See the harmonized view above.

(o) For this is my blood of the (p) new testament, which is shed for many for the remission of sins.
(o) That is, this cup or wine is my blood sacramentally, as in See Luke 22:20.
(p) Or covenant, that is to say, by which the new league and covenant is made, for in the making of leagues they used the pouring of wine and shedding of blood.

For this is my blood of the New Testament,.... That is, the red wine in the cup, was an emblem and representation of his precious blood, whereby was exhibited a new dispensation, or administration of the covenant of grace; and by which it was ratified and confirmed; and whereby all the blessings of it, such as peace, pardon, righteousness, and eternal life, come to the people of God: the allusion is to the first covenant, and the book of it being sprinkled with the blood of bulls, and therefore called the blood of the covenant, Exodus 24:8. But the second covenant, or the new administration of the covenant of grace, for which reason it is called the New Testament, is exhibited and established in the blood of Christ the testator. It was usual, even among the Heathens, to make and confirm their covenants by drinking human blood, and that sometimes mixed with wine (e),
Which is shed for many, for the remission of sins; that is, was very shortly to be shed, and since has been, for all the elect of God; for the many that were ordained to eternal life, and the many that were given to Christ, the many that are justified by him, and the many sons he will bring to glory: whereby the full forgiveness of all their sins was procured, in a way consistent with, and honourable to the justice of God; full satisfaction being made to the law of God, for all their transgressions,
(e) Alex. ab Alex. Genial. Dier. l. 5. c. 3.

This is my blood. A sign or emblem of my blood.
New testament. Or, covenant. Covenant is the preferable sense here, as in most passages where the word occurs in the New Testament; the new covenant is contrasted with "the covenant which God made with our fathers" (Acts 3:25).
Shed for many. Shed, in one sense, for all, for the benefits of the blood are offered to all; but "many" accept it and are saved.

This is the sign of my blood, whereby the new testament or covenant is confirmed. Which is shed for many - As many as spring from Adam.