Nasdaq wants to put cryptocurrency, cryptocurrency in custody

The New York Stock Exchange, which is dedicated to technology stocks, wants to offer custody of bitcoins and ethers.

Nasdaq Wants To Imprison Cryptocurrency |  Photo credits: Stocksnapper / Shutterstock.com

Nasdaq Wants To Imprison Cryptocurrency | Photo credits: Stocksnapper / Shutterstock.com

The Nasdaq Composite is a well-known New York market index that measures the evolution and growth of technology stocks more broadly. It should reflect the state of the stock market operated by Nasdaq Inc., in which the shares of web and IT companies are traded. According to him, it should soon offer custodianship of cryptocurrencies to its customers Bloomberg which quotes Tal Cohen, Vice Pres. For now, only Ether and Bitcoin will be affected, but approval from the New York Department of Financial Services must still be obtained before this project becomes a reality.

on the mood of the time

This initiative is clearly due to the spirit of the times, on the one hand, because digital assets are part of new technologies, but also because investors who are interested in cryptocurrencies are also interested in Nasdaq stocks and vice versa.

The correlation between the price of Bitcoin and the Nasdaq Composite has decreased over 30 days (+1 indicates that the prices are moving in the same direction).

The correlation between the price of Bitcoin and the Nasdaq Composite has decreased over 30 days (+1 indicates that the prices are moving in the same direction).

The correlation between the price of Bitcoin and the Nasdaq Composite has decreased over 30 days (+1 indicates that the prices are moving in the same direction).

| Photo credit: RD Investir

The correlation between the price of Bitcoin and the Nasdaq Composite has also strengthened in 2021 following the arrival of institutional players in the field of cryptocurrencies, and their appetite has not waned despite the downward trend since the beginning of the year. “Conservation is fundamental– says Tal Cohen. We can start to develop other solutions on this pillar, such as execution services, liquidity and think about how we can support these new markets. » However, the issue of launching a cryptocurrency trading platform has not yet been decided.



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