While Bitcoin and altcoins continue to struggle with sharp declines, positive news for Bitcoin and Ethereum came from Germany.
Germany's largest stock exchange Deutsche Boerse announced that its post-trading unit Clearstream plans to launch Bitcoin and Ethereum custody services in Europe this year, Bloomberg reported.
BTC and ETH custody services will only be available to institutional clients in Europe.
The BTC and ETH service, which will be offered to more than 2,500 institutional customers, is expected to start in April.
Clearstream will offer BTC and ETH custody services through its Switzerland-based subsidiary Crypto Finance AG, in which Deutsche Boerse acquired a majority stake in 2021.
Deutsche Boerse’s move coincides with the increasing institutional pressure on crypto services in Europe following the implementation of MiCA, which comes into force on December 30, 2024, for crypto asset service providers.
Like the positive steps taken in the Bitcoin and crypto space in the US, Deutsche Boerse’s BTC and ETH move has failed to boost market sentiment as investors remain alert to broader economic and global events.
*This is not investment advice.
