BNY Mellon, an American investment banking services holding company dating back to 1784, will soon become the official provider of investment in the most popular cryptocurrency, Bitcoin.
For Grayscale Investments, which has long worked to transform their "Grayscale Bitcoin Trust" investment product into an ETF, concluding an agreement with BNY Mellon is one of the most important milestones, said CEO of Grayscale Investments, LLC.
Based on this agreement as stated in the PR, BNY Mellon will provide Grayscale Bitcoin Trust with fund accounting and administration effective October 1, 2021. This means that from the fall of this year, the Grayscale Bitcoin Trust will be integrated into BNY Mellon’s market-leading platform, including BNY's proprietary ETF Center, which has special technology designed to support digital asset ETFs.
Providing essential fund administration services to the world’s largest digital currency asset manager further validates that BNY Mellon stands squarely at the intersection of trust and innovation, — It’s another critical milestone in our rapidly growing digital asset capabilities and broader strategy of putting client choice at the center of everything we do. said Roman Regelman, CEO of Asset Servicing and Head of Digital at BNY Mellon.
BNY Mellon, which has more than $ 1T in ETF assets, will become one of the most recognized and largest players in the digital asset world since the fall of this year, in agreement with Grayscale Investments.