World’s largest custodian bank BNY Mellon holds spot Bitcoin ETFs

April 26, 2024 05:58 AM PDT | By Invezz
 World’s largest custodian bank BNY Mellon holds spot Bitcoin ETFs
Image source: Invezz

The global interest in spot Bitcoin ETFs continues to pull in the world’s largest institutional investors and firms.

This time, it’s BNY Mellon, the world’s largest custodian bank, which has revealed its exposure to the spot Bitcoin ETFs market. Specifically, BNY Mellon’s filing with the US Securities and Exchange Commission (SEC) shows the bank holds Blackrock’s and Grayscale’s spot BTC ETFs.

BNY Mellon’s filing with the SEC did not specify the amount of exposure with regard to BlackRock’s IBIT and Grayscale’s GBTC. However, the move is nonetheless notable and likely a huge development that could spark further adoption across the finance and banking world.

Already, some of the world’s top financial institutions are keen on the sector. Banks such as Morgan Stanley are also reportedly warming up to the investment opportunity this may offer to clients.

Meanwhile, recent developments in Hong Kong suggest spot Bitcoin ETF demand could soon skyrocket.

BlackRock’s $IBIT spot Bitcoin ETF rules market

BlackRock’s iShares Bitcoin Trust ($IBIT) saw its daily inflow streak end at 71 days this week. However, while $IBIT finally hit zero flows on the day, the flagship spot Bitcoin ETF continues to smash market records for fun.

In one instance, senior Bloomberg ETF analyst Eric Balchunas highlighted $IBIT’s record haul of assets after 71 days.

With over 274,000 Bitcoin (BTC) worth more than $17.6 billion in assets under management, $IBIT is closing in on GBTC’s $19.4 billion in net assets.

The newly launched ETF is also in a league of its own in terms of net assets after the first 72 days, according to data the analyst shared. Fidelity’s $FBTC is second behind $IBIT after the first 72 days.

Remarkably, $IBIT ranks 2nd in terms of year-to-date flows out of 10,698 funds registered in the United States, including ETFs, mutual funds, and CEFs.

The post World's largest custodian bank BNY Mellon holds spot Bitcoin ETFs appeared first on Invezz


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media LLC., having Delaware File No. 4697309 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.


Sponsored Articles


Investing Ideas

Previous Next