Connect with us

Crypto

BNY Mellon Enter BTC ETF Markets Amid Cryptocurrency Surge

Published

2 years ago

on

BNY Mellon Enter BTC ETF Markets Amid Cryptocurrency Surge

BNY Mellon, the oldest and largest custodian bank in the United States, has officially announced its venture into Bitcoin (BTC) through investments in ETFs. The firm disclosed in a recent SEC filing its investments in BTC ETFs managed by BlackRock and Grayscale. 

The SEC’s historic approval of 11 spot Bitcoin ETFs in January 2024 has reshaped the investment landscape for cryptocurrencies in America. The introduction of these ETFs brought a surge of enthusiasm, pushing Bitcoin to an all-time high of $73,737 in March. BNY Mellon’s involvement is a testament to the growing institutional interest in cryptocurrencies, a trend boosted by these new investment tools.

Advertisement

Moreover, the approval of Bitcoin ETFs in the U.S. has had a domino effect on global markets. Notably, Hong Kong has followed suit, approving its own Bitcoin and Ethereum spot ETFs, set to begin trading on April 30, 2024. This expansion in global financial hubs signifies a broader acceptance and integration of cryptocurrencies into mainstream financial systems.

Market Predictions

Market analysts predict a strong upward trajectory for Bitcoin, with forecasts suggesting a possible climb to $85,195 by late May 2024. This optimism is grounded in the increasing accessibility and investment flexibility provided by ETFs, making Bitcoin more appealing to both seasoned and new investors.

Furthermore, the potential approval of a spot Ethereum ETF in the U.S. could catalyze another significant rally, particularly as Ethereum currently trails its previous highs. The introduction of such a fund could invigorate the market, possibly driving Ethereum to recover and even surpass its former peak prices.

BNY Mellon’s investment in Bitcoin ETFs is a clear indicator of the evolving landscape of financial investments, with major institutions now looking to digital assets as viable investment vehicles. As the landscape continues to evolve, the financial community watches closely, anticipating the next milestones in this digital finance revolution.

Advertisement

Also Read: ARK Dumps ProShares Bitcoin ETF Shares in Massive Sell-Off

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Crypto

Standard Chartered and Coinbase Expand Institutional Crypto Rails as Banking and Exchange Infrastructure Lock in

Published

4 hours ago

on

December 15, 2025

By

Standard Chartered and Coinbase Expand Institutional Crypto Rails as Banking and Exchange Infrastructure Lock in
Standard Chartered and Coinbase are pushing institutional crypto adoption forward by expanding a global digital asset partnership, signaling deeper integration between regulated banking infrastructure and crypto-native platforms as institutional demand accelerates.
Continue Reading

Crypto

UK Treasury to regulate cryptocurrency under new legislation

Published

16 hours ago

on

December 14, 2025

By

UK Treasury to regulate cryptocurrency under new legislation

The UK is set to introduce new legislation by 2027 that will bring cryptocurrencies, including Bitcoin, under a regulatory framework akin to traditional financial products.

The Treasury has unveiled plans for these new laws, which will mandate crypto firms to adhere to a specific set of standards and rules. These will be rigorously overseen by the Financial Conduct Authority (FCA).

This move comes amidst a broader push to reform the burgeoning crypto market, which has seen a surge in popularity as both an alternative investment and a method of payment.

Currently, unlike established financial instruments such as stocks and shares, the cryptocurrency sector lacks comparable regulation, potentially leaving consumers with reduced protection.

Chancellor Rachel Reeves said: “Bringing crypto into the regulatory perimeter is a crucial step in securing the UK’s position as a world-leading financial centre in the digital age.
Chancellor Rachel Reeves said: “Bringing crypto into the regulatory perimeter is a crucial step in securing the UK’s position as a world-leading financial centre in the digital age. (Ben Birchall/PA)

The Government said the new rules, coming into force in 2027, will make the industry more transparent and make it easier to detect suspicious activity, impose sanctions or hold firms to account over their activity.

Chancellor Rachel Reeves said: “Bringing crypto into the regulatory perimeter is a crucial step in securing the UK’s position as a world-leading financial centre in the digital age.

Advertisement

“By giving firms clear rules of the road, we are providing the certainty they need to invest, innovate and create high-skilled jobs here in the UK, while giving millions strong consumer protections, and locking dodgy actors out of the UK market.”

Crypto firms, which can include crypto exchanges and digital wallets, currently have to register with the FCA if they provide services that fall within the scope of money laundering regulations.

The changes will bring firms that provide crypto services into the remit of the FCA with the intention of supporting legitimate businesses.

City minister Lucy Rigby said: “We want the UK to be at the top of the list for cryptoassets firms looking to grow and these new rules will give firms the clarity and consistency they need to plan for the long term.”

Advertisement
Continue Reading

Crypto

SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority

Published

1 day ago

on

December 14, 2025

By

SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority
The SEC is signaling a decisive push to move U.S. financial markets onto blockchain infrastructure, framing on-chain settlement as a priority upgrade that could reshape post-trade systems and regulatory strategy under Chair Paul Atkins.
Continue Reading

Trending