Crypto:
30336
Bitcoin:
$65.009
% 0.10
BTC Dominance:
%54.2
% 0.09
Market Cap:
$2.37 T
% 0.16
Fear & Greed:
60 / 100
Bitcoin:
$ 65.009
BTC Dominance:
% 54.2
Market Cap:
$2.37 T

BNY Mellon Invests in Bitcoin ETFs from BlackRock and Grayscale

Bny Mellon Etfs

By granting approval for spot Bitcoin ETFs in January of last year, the Securities and Exchange Commission (SEC) opened a new door for Bitcoin. At this period, a significant number of new institutional investors started accessing Bitcoin through exchange-traded funds (ETFs).

Despite the fact that analysts continue to assert that many banks are not exposed to exchange-traded funds, the Bitcoin move originated from BNY Mellon, which is the oldest bank in the United States.

BNY Mellon disclosed to the Securities and Exchange Commission (SEC) that it had made investments in Bitcoin exchange-traded funds offered by BlackRock and Grayscale.

 

What is ETFs?

Combining the flexibility of stocks and the portfolio-diversifying strengths of mutual funds, ETFs give you an affordable way to access a wide variety of asset classes.

ETFs or “exchange-traded funds” are exactly as the name implies: funds that trade on exchanges, generally tracking a specific index. When you invest in an ETF, you get a bundle of assets you can buy and sell during market hours—potentially lowering your risk and exposure, while helping to diversify your portfolio.

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