BNY Supporting 80% of Activity in Crypto Products -- Market Talk
0836 ET - Bank of New York Mellon is currently supporting about 80% of the activity in new-Bitcoin and Ethereum-based exchange-traded products, CEO Robin Vince says on a call. The bank received approval last year to offer custody services for investors who own crypto exchange-traded products, without having to reflect those assets on its balance sheet. BNY intends to keep investing this year in helping clients bridge across crypto markets and more traditional ones, Vince says. He calls out tokenization and smart contracts as elements of digital assets that can be used to drive efficiencies in certain markets. (dean.seal@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 08:36 ET (13:36 GMT)
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