BNY Mellon Holds Over $13 Million in Bitcoin ETF, Signaling Bank Embrace of Cryptocurrency

The Bank of New York Mellon (BNY Mellon) has revealed its substantial holdings in a Bitcoin exchange-traded fund (ETF), with an investment exceeding $13 million as of the fourth quarter. This portfolio encompasses 115,108 shares of BTCW, valued at approximately $11.87 million, alongside 25,309 shares of IBIT, estimated at around $1.4 million. The recent remarks from Federal Reserve Chairman Jerome Powell indicate a supportive stance towards banking institutions engaging in cryptocurrency services, provided they effectively manage the associated risks. This development underscores the increasing institutional interest in cryptocurrency assets and highlights the evolving regulatory landscape surrounding digital currencies. With BNY Mellon’s significant investment, market observers are keenly watching how traditional finance continues to integrate with the growing world of cryptocurrency.