BNY Mellon Joins Crypto Custody Race, Securing Bitcoin for Institutional Investors

The Bank of New York Mellon Corp (BNY Mellon) is about to start offering crypto custodian services that will enable them to secure Exchange Traded Funds products on their facilities according to a new Bloomberg report.

However, this custodian services assets must no be included in the Bank balance sheet and their desire is approved by the Securities and Exchange Commission who, doesn't see any issues the BNY Mellon start offering crypto custodian services.

This means, that the largest New York Bank with more than 50 billion in custodian assets from customers on their guard will be start securing Bitcoin and Ether for companies such as Blackrock or Grayscale adding them on their largest and richest cast of customers. This is huge as they become direct Coinbase concurrence and things will start to heat up.

Things will be more competitive on this field and will give a more variety of secure companies to hold Bitcoin and Ethereum from ETFs.

Who could think that Banks, who for norm are the direct Bitcoin competition would start showing desire to offer custodian for them and of course making money from it after all, billionaire Funds are betting big on the asset. Remember:

CONTENT IS KING!