Bitcoin (BTC) And Ethereum (ETH) The rise in the crypto money market, especially in the crypto money market, created an atmosphere of enthusiasm among investors.
According to the news of Coindesk, evaluating this rise in the crypto market Bank of America, He said that the crypto industry continues to thrive despite the harsh corrections and bankruptcies it went through in 2022.
Pointing to the high institutional demand for crypto, BoF analysts Alkesh Shah and Andrew Moss said the Nasdaq cryptocurrency He stated that it is the last traditional financial institution to offer the service.
“Institutional investors continue to be interested and focused on blockchain technology.
However, bankruptcies in the crypto sector can slow institutional trade and interest.
At this point, reliable and experienced TradFi companies that offer corporate-grade products can fill the void left by bankruptcies.
The SEC’s stance towards the cryptocurrency industry may limit the custody services of cryptocurrency exchanges. This will attract more TradFi institutions to the field.
In our view, TradFi institutions will continue to be the preferred party against crypto exchanges.”
As will be remembered Nasdaq The bank stated in a report published in late March that it plans to launch its crypto custody service by the end of the second quarter of 2023.
*Not investment advice.
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