Nasdaq Crypto Custody Crystallizing, Launch Coming Soon: Report

Wall Street interest in crypto products may be on the upswing


Goran Vrhovac/Shutterstock modified by Blockworks


Nasdaq’s hotly anticipated crypto custody suite is taking shape, with a launch reportedly expected before the end of the second quarter. 

Bloomberg reported on Friday that Nasdaq Inc., the parent company of the US tech-heavy stock exchange, is “pushing ahead to get all the necessary technical infrastructure and regulatory approvals in place.” Bloomberg cited an interview with Ira Auerbach, senior vice president and head of Nasdaq Digital Assets, in reporting the news. 

Nasdaq first made its digital asset ambitions known in September 2022, as previously reported by Blockworks, when its president and chief executive, Adena Friedman, then said in a statement that the “technology that underpins the digital asset ecosystem has the potential to transform markets over the long-term.”

“To deliver on that opportunity, our focus will be to provide institutional-grade solutions that bring greater liquidity, integrity, and transparency to support the evolution,” she said in a statement at the time. 

Nasdaq’s reported launch by the end of the second half of 2023 comes at a time when crypto industry participants say traditional finance interest is on the uptick. And the stock exchange’s move is at least one indicator that institutional-grade crypto interest remains strong, despite a disastrous 2022 for many sectors within the digital asset ecosystem. 

In the fourth quarter of 2022, BNY Mellon said it would provide custody and transfer services for bitcoin (BTC) and ether (ETH), specifically, to a number of its institutional clients, according to a Blockworks’ story from the time. 

Crypto traders in more recent weeks have been eyeing what their traditional finance counterparts are doing in the space, as bitcoin, ether and crypto more broadly have found their local floor — and have already booked substantial performance gains so far in 2023.

There’s also been a related crypto-native push of late, per Blockworks’ previous reporting, to cash in on opportunities to provide blockchain-based alternatives to those moves made by the likes of Nasdaq and its counterparts.

Get the day’s top crypto news and insights delivered to your email every evening. Subscribe to Blockworks’ free newsletter now.

Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief.

Can’t wait? Get our news the fastest way possible. Join us on Telegram and follow us on Google News.


upcoming event

MON - WED, MARCH 18 - 20, 2024

Digital Asset Summit (DAS) is returning March 2024. This year’s event will be held in our nation’s capital, where industry leaders, policymakers, and institutional experts will come together to discuss the latest developments and challenges in the ever-evolving world of cryptocurrency. […]

upcoming event

MON - WED, SEPT. 11 - 13, 2023

2022 was a meme.Skeptics danced, believers believed.Eventually, newcomers turned away, drained of liquidity and hope.Now, the tide is shifting and it’s time to rebuild. Permissionless II is the brainchild of Blockworks and Bankless. It’s not just a conference, but a call […]

recent research

Circle’s Cross-Chain Transfer Protocol: Bridges Will Evolve, They May Not Survive


CCTP is a cross-chain infrastructure protocol, created by Circle, that allows anyone to burn and mint native USDC across supported chains. It unlocks a huge variety of use cases and may change the bridging landscape.



Decisions made by the DAO will be automatically implemented from mainnet to different sidechains


Debt ceiling resolution and bullish Asia news may be setting up the market for increased volatility this week


Republican congressman Warren Davidson highlighted the blockage of proposed taxes in the US debt ceiling deal


The decision to back the exchange, which negatively impacted Temasek’s reputation, has resulted in a pay cut for those behind its doomed $275 million investment


Blockchains should empower individuals, not subject them to the most invasive surveillance the web has ever seen


DeSantis says that the Biden administration will ban Bitcoin. Good luck with that.