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BNY Mellon Moves Closer to Offering Crypto ETF Custody Services

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Sep 24, 2024

America's oldest bank, BNY Mellon, is drawing closer to offering custodial services to exchange-traded fund clients, according to Bloomberg. The progress towards being in a position to offer the services comes after a review enabled the company to avoid treating the assets as a balance-sheet liability. BNY Mellon has publicly expressed interest in being involved in digital assets since at least January 2023, when CEO Robin Vince said on an earnings call that digital assets are the bank's 'longest-term play.'

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