• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Nexo

BNY Mellon Partners With Grayscale Investments Service GBTC and Its Bitcoin ETF

Anifowoshe Ibrahim by Anifowoshe Ibrahim
1 year ago
in News
0
Advertisement

Although the influx of institutional investors into Bitcoin has slowed, Grayscale Bitcoin Trust remains one of the most notable institutional investor. GBTC has received a new push from one of the world’s most powerful banks, which intends to strengthen the former’s ETF goals.

Grayscale Investment Partners With BNY Mellon

Grayscale Investments, a digital asset management, has chosen BNY Mellon to serve as the asset servicing provider for its flagship product, the Bitcoin Trust. BNY Mellon will now run the Bitcoin Trust, which was previously converted into an SEC-reporting firm, as part of the agreement.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

From October 1, 2021, BNY will take over the fund’s accounting and administration. In the future, when the Bitcoin Trust Fund is converted into an Exchange Traded Fund (ETF), BNY will operate as a transfer agency.

Grayscale has hired BoNY to do servicing for $GBTC. Another step towards trying to convert $GBTC and build out ETF operation (curr looking to hire like 10ppl). Altho not clear if/when they will be able to convert. Via ⁦@cfb_18⁩ pic.twitter.com/CC7exdJ5NG

— Eric Balchunas (@EricBalchunas) July 13, 2021

Michael Sonnenshein, Chief Executive Officer of Grayscale Investments, believes that the arrangement demonstrates the company’s commitment to becoming an ETF, as stated previously. Earlier this year, the company reaffirmed its firm commitment to transitioning the Bitcoin Fund into an ETF in accordance with the product’s strategic roadmap. When the Fund became an SEC-reporting business, it had already completed the third step of the pipeline.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Sonnenshein further said, “BNY Mellon has a long-standing reputation as a trusted provider and has established one of the first teams dedicated to servicing the growing digital currency asset class.”

He emphasized his delight and confidence in BNY’s ability to assist Grayscale in providing a seamless and industry-leading investment experience. With an ETF Center that provides technological support for digital assets, BNY Mellon is a market leader.

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Related article | Is Grayscale Bitcoin Trust’s Demise Inevitable? GBTC Premium Negative for a Consecutive Month

Through BNY’s platform, Grayscale will be able to scale its operations, become more resilient and automated, and position the Trust for long-term success.

Roman Regelman, BNY Mellon’s CEO of Asset Servicing, said the agreement was a critical milestone in the company’s digital assets capabilities and a reflection of their commitment to always putting the client first. “Providing vital fund administration services to the world’s largest digital currency asset manager further reinforces BNY Mellon’s position at the crossroads of trust and innovation,” he said.

While Grayscale Investments is considered to be the largest global assets management company with about $30B in assets in its investment portfolios, BNY Mellon is touted to be the world’s largest asset servicing firm with over$2.2T in assets under management. A collaboration between the two industry leaders will be mutually beneficial. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK) and renders its services in up to 35 nations globally.

grayscale

                      BTC/USD still below $35k. Source: TradingView

Related article | Hedge Funds Widely Flip Short on Bitcoin Despite Blatant Breakout

Featured image from UnSplash, charts from TradingView
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Related Posts

Elon Musk

Elon Musk To Twitter: Let’s Do A Public Debate On Bots!

4 days ago
Barcelona

Barcelona FC And Socios.com Sign $100 Million Deal For Web3 Push

2 weeks ago
digital payments

 Restrictions On Cash Payments In Israel Prompt Shift To Digital Payments

2 weeks ago
Ethereum

Ethereum Creator Says Facebook’s Metaverse Attempt Will Fail

2 weeks ago
Axie

Axie Infinity CEO Denies Claims Of Insider Trading; Game Token’s Value Down To Zero

2 weeks ago
Miami

Miami Boosts Crypto Image With Release Of 5,000 NFTs With Mastercard, Time And Salesforce

2 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.