Bitcoin ETF

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BNY Mellon, the world’s largest custodian bank and the oldest in the U.S., has recently disclosed its investment in Bitcoin ETFs. 
According to an <a href="https://www.sec.gov/Archives/edgar/data/1390777/000139077724000062/xslForm13F_X02/xml_filing.xml" data-type="link" data-id="https://www.sec.gov/Archives/edgar/data/1390777/000139077724000062/xslForm13F_X02/xml_filing.xml" target="_blank" rel="">SEC filing</a>, the bank is exposed to BTC ETFs offered by <a href="https://crypto.news/tag/blackrock/" data-type="link" data-id="https://crypto.news/tag/blackrock/" rel="">BlackRock</a> and <a href="https://crypto.news/tag/grayscale/" data-type="link" data-id="https://crypto.news/tag/grayscale/" rel="">Grayscale</a>, underscoring the growing institutional interest in cryptocurrencies. 
The U.S. SEC’s <a href="https://crypto.news/bitcoin-etf-approval-crypto-volume-spiked-market-cap-rose/" rel="">approval</a> of 11 spot Bitcoin ETFs earlier this year marked a significant milestone for American crypto investors. This decision came after prolonged investor demand for such financial instruments. 
ETF anticipation and subsequent approval triggered a surge in the crypto market, propelling BTC to a new all-time high of $73,737 in March. The demand for Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="">BTC</a>) ETF exposure reflects a broader trend of institutional investors warming up to the emerging asset class. 
 You might also like: <a href="https://crypto.news/marathon-to-double-bitcoin-mining-capacity-by-2024/" rel=""> Marathon to double Bitcoin mining capacity by 2024 </a> 
<a href="https://crypto.news/hong-kong-approves-spot-bitcoin-ethereum-etfs-by-bosera-and-hashkey/" data-type="link" data-id="https://crypto.news/hong-kong-approves-spot-bitcoin-ethereum-etfs-by-bosera-and-hashkey/" rel="">Hong Kong’s</a> financial authorities have approved spot Bitcoin and Ethereum ETFs, which are scheduled to commence trading on April 30. The approval signals the global acceptance and integration of <a href="https://crypto.news/market-cap/" data-type="link" data-id="https://crypto.news/market-cap/" rel="">cryptocurrencies</a> into traditional financial markets. 
<a href="https://coincodex.com/crypto/bitcoin/price-prediction/" data-type="link" data-id="https://coincodex.com/crypto/bitcoin/price-prediction/" target="_blank" rel="">CoinCodex</a> predicts that Bitcoin will reach a new peak of $84,412 on May 25, possibly fueled by the launch of Hong Kong’s BTC ETF. Should the U.S. follow suit and approve a spot <a href="https://crypto.news/tag/ethereum-etf/" data-type="link" data-id="https://crypto.news/tag/ethereum-etf/" rel="">Ethereum ETF</a>, it could ignite another significant rally in the crypto market, particularly for Ethereum. 
Currently trading at a considerable discount from its November 2021 all-time high, Ethereum (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/" rel="">ETH</a>) stands to benefit from further institutional adoption. 
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 Read more: <a href="https://crypto.news/blackrocks-bitcoin-etf-sees-217m-outflow/" rel=""> BlackRock’s Bitcoin ETF sees $217m outflow </a>

BNY Mellon invests in Bitcoin ETFs as institutional interest grows

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