The NASDAQ is set to launch its institutional crypto custody services in a few months, according to a report by Bloomberg. 😱
This move comes as the cryptocurrency industry continues to grow in popularity, despite regulatory FUD and government disdain.
Institutional investors are increasingly looking to invest in cryptocurrencies, and Nasdaq’s custody services will provide them with a secure way to do so.
Nasdaq is not the only traditional financial institution that is entering the cryptocurrency space. Goldman Sachs ($GS) and Morgan Stanley ($MS) have announced plans to offer crypto custody services.
The entry of these major financial institutions into the cryptocurrency industry is a sign of the growing maturity of the market. It is also a sign of the increasing demand for institutional-grade crypto custody services.
And it’s just another example of why the only thing bearish in the crypto space is price action – adoption by traditional money continues to grow every year.
The exchange will reportedly offer custody services for $BTC, $ETH, and other major cryptocurrencies. 💪