Nasdaq has continued to show signs that it is willing to accept cryptocurrency into its platform. on September 11, a report revealed that the stock market giant is planning on integrating crypto datasets into its trading tool.
Nasdaq’s Head of Alternative Data, Bill Dague stated that the firm is presently exploring the possibilities of launching cryptocurrency-related datasets. Also, Dague explained that the crypto dataset will be introduced to Nasdaq’s data analytics hub. Therefore, investors would be able to understand unstructured data.
Also in July, Bloomberg reported that Nasdaq hosted a closed-door meeting where the legitimation of cryptocurrency was extensively discussed. The firm hosted representatives from traditional exchanges as well as crypto exchanges. The report revealed that the meeting dwelled majorly on practices that could be introduced to the crypto market which will boost its image.
In April, the CEO of Nasdaq Adena Friedman told CNBC that Nasdaq will consider listing cryptocurrencies once the market mature. Friedman explained that the firm has been monitoring the crypto market, and will get involved when it becomes regulated. Friedman stated that cryptocurrencies will get regulated sooner or later.
Although Nasdaq has not given a definitive timeline for its plans to launch a crypto exchange, it has always been involved with cryptocurrency. Earlier this year, the stock giant partnered with New York-based crypto exchange Gemini. The partnership allows Gemini to have access to NASDAQ’s Smarts Market Surveillance Technologies. The technology helps prevent market manipulation while reporting unusual fluctuations.
Cryptocurrency to be Regulated?
Many believe that cryptocurrency will be adopted on a massive scale by institutional investors if its get regulated. This is one of the major reasons why the cryptocurrency community is so intrigued by the possibility of a bitcoin ETF. However, the U.S. Securities and Exchange Commission (SEC) has continued to reject applications filed for a bitcoin ETF. Nonetheless, many in the crypto community are certain that a bitcoin ETF will be regulated in the nearest future.