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Bank of New York Mellon now holds over $13 million in Bitcoin exchange-traded funds (ETFs) showcasing significant institutional interest in cryptocurrency investments. The holdings are spread across 115108 shares of WisdomTree Bitcoin Fund valued at roughly $11.87 million and 25309 shares of BlackRock’s iShares Bitcoin Trust approximately worth $1.4 million.
The move aligns BNY with other financial giants like JPMorgan Chase and Goldman Sachs who also have substantial investments in crypto ETFs. JPMorgan holds nearly $1 million while Goldman Sachs possesses around $1.63 billion in Bitcoin ETF shares alongside $196.3 million in Ethereum ETF shares.
This trend underlines a growing acceptance of cryptocurrency as a viable investment by major banks especially following the SEC’s approval of Bitcoin and Ethereum-based ETFs last year. The initiative allows investors to gain exposure to these leading digital assets without the need for direct purchase signaling a pivotal shift in the integration of cryptocurrencies into traditional finance.
