It has emerged that BNY Mellon, the largest custodian bank globally, is among the latest entities to gather exposure to Bitcoin (BTC) through a spot exchange-traded fund (ETF).
In a Securities Exchange Commission (SEC) filing, the institution revealed its exposure to ETFs from BlackRock (NYSE: BLK), the world’s largest investment firm, and Grayscale.
The bank’s foray into the Bitcoin ETF market potentially signifies the increasing interest in this product. Notably, the United States approved Bitcoin ETFs, with 11 products gaining the nod to start trading. This move partly contributed to Bitcoin’s resurgence, reaching an all-time high of over $73,000 in March.
The BlackRock and Grayscale ETFs have emerged as popular choices, attracting significant capital inflows. For example, BlackRock’s IBIT ETF has consistently drawn investments, accumulating nearly $15.5 billion in about two months. However, BlackRock’s streak of inflows ended on April 24, when it recorded $0
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