The Nasdaq Composite is a well-known index of the New York market, it is the one that measures the evolution of the shares of technology stocks and more broadly of growth. It is supposed to reflect the state of the stock market operated by Nasdaq Inc. in which the shares of web and IT companies are traded.
And it should even soon offer its customers the custody of cryptocurrencies, according Bloomberg which quotes Tal Cohen, Vice President. Only ether and bitcoin will be affected for the moment, but the approval of the New York State Department of Financial Services must still be obtained before this project becomes a reality.
In the mood of time
This initiative is clearly driven by 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 also strengthened with the arrival of institutional players in the sphere of cryptocurrencies in 2021, and their appetite has not dried up despite a downward trend since the start of the year.
“Conservation is fundamentalsays 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, there is no question of launching a cryptocurrency trading platform yet.