Bank

Maneki

Bitcoin ETF

In what comes as an unprecedented disclosure, BNY Mellon (Bank of New York), one of the oldest banks in America, recently revealed that the firm owns substantial investments in Bitcoin ETFs (exchange-traded-funds), according to the company’s quarterly filings. This has ignited a buzz across the global cryptocurrency landscape, particularly among institutional investors, marking a notable stride in traditional financial industries’ adoption of cryptocurrencies. Let’s take a closer look at BNY’s investment into <a href="https://coingape.com/education/bitcoin-spot-etf/" target="_blank" rel="noopener noreferrer nofollow">BTC ETFs</a> which ignited a sense of frenzy nationwide
<h2 id="span-data-preserver-spaces-true-bny-mellon-discloses-btc-etf-investments-in-13f-filings-span">BNY Mellon Discloses BTC ETF Investments in 13F Filings&nbsp;</h2>
BNY Mellon’s latest Form 13F filings with the Securities and Exchange Commission has reverberated throughout the global crypto community. The bank’s investments in BlackRock and Grayscale Bitcoin ETFs are not just a mere local development, but a global sign of the increasing acceptance and adoption of <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrencies</a> within the traditional financial landscape.
Notably, Form 13F by the U.S. SEC requires a quarterly report to be filed by all institutional investment managers with at least $100 million in assets under management. Aligning with this, BNY reported that it had assets worth $2.02 trillion under its management (AUM), per Q1 2024 data, with the BTC ETFs included. Whereas, the entity also held $48.8 trillion in assets under custody or administration.&nbsp;
This underscored the burgeoning institutional interest in the much-recently revealed Bitcoin ETFs following the <a href="https://coingape.com/sec-gives-nod-to-spot-bitcoin-etf-opens-door-for-trading/" target="_blank" rel="noopener noreferrer nofollow">U.S. SEC’s approval</a>.&nbsp;Meanwhile, BNY Mellon revealed that&nbsp;the two ETFs it holds&nbsp;are the industry’s two largest Bitcoin ETF products, GBTC (Grayscale Bitcoin Trust ETF) &amp; BlackRock’s Bitcoin ETF (IBIT).
Also Read: <a href="https://coingape.com/solana-meme-coin-maneki-rallies-on-major-listing/" target="_blank" rel="noopener noreferrer nofollow">Solana Meme Coin Maneki Rallies On Major Listing</a>
<h2 id="span-data-preserver-spaces-true-gbtc-ibit-market-data-span">GBTC &amp; IBIT Market Data</h2>
Intriguingly, amidst the buzz curated with the abovementioned chronicle, GBTC recorded substantial outflows, whereas IBIT witnessed the second day of zero inflows, garnering considerable attention. Per a report by CoinGape Media today, the <a href="https://coingape.com/multiple-bitcoin-etfs-report-net-outflows-grayscale-gbtc/" target="_blank" rel="noopener noreferrer nofollow">Grayscale Bitcoin ETF</a> recorded a whopping $140 million in outflows.
In the interim, with BlackRock’s IBIT ETF witnessing 0 inflows for the second consecutive day, dwindling capital inflow in the asset has sparked concerns. Nonetheless, BNY’s filings underscore an increased adoption of cryptos among traditional finance players.&nbsp;
Also Read: <a href="https://coingape.com/trending/4-most-profiting-meme-coins-in-todays-slow-market/" target="_blank" rel="noopener noreferrer nofollow">4 Most Profiting Meme Coins In Today’s Slow Market</a>
The post <a href="https://coingape.com/bitcoin-etf-america-oldest-bank-bny-mellon-reveals-btc-etf-investments-quarterly-filings/" rel="noopener noreferrer nofollow">Bitcoin ETF: America’s Oldest Bank BNY Mellon Reveals BTC ETF Investments In Quarterly Filings</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Bitcoin ETF: America’s Oldest Bank BNY Mellon Reveals BTC ETF Investments In Quarterly Filings

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