Nasdaq is dropping its plans to release a crypto custody business, CEO Adena Friedman said on the company's earnings call Wednesday.
"More broadly, we remain committed to supporting the evolution of the digital asset ecosystem in a variety of ways, among them through our ongoing engagement with regulators, the delivery of comprehensive technology solutions across the trade lifecycle and through our partnerships with potential ETF issuers to support tradable exchange listed products," Friedman added.to develop the custody solution in September along with the formation of its crypto business, Nasdaq Digital Assets.
The pause by Nasdaq comes as a minor disappointment for those who have been encouraged lately by the momentum around spot bitcoin ETF filings by BlackRock and other institutions, as well as the recent court ruling in the SEC's lawsuit against Ripple.
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