New York Melon Bank (Bny Mellon) The holdings of more than $ 13 million have been revealed in Bitcoin The boxes circulated on the stock exchange (ETFS) at the end of the fourth quarter, which represents another mark that traditional financial institutions increase their exposure to digital assets.
According to the newly submitted disclosure to SEC, BNY Mellon 115,108 shares own Wisdomtree Bitcoin Fund (BTCW), At a value of about 11.87 million dollars, and 25309 shares Blackrock’s Ishaares Bitcoin Trust (He goes), Worth about $ 1.4 million.
Wallstreet heats up to Bitcoin
BNY Mellon at Bitcoin Etfs adds to an increasing direction between the main Wall Street banks that are cautiously entering the area of digital assets.
Jpmorgan ChaseFor example, almost carries Million dollars In Bitcoin ETF shares, while Goldman Sachs I reported exposure to 2 billion dollars In Bitcoin and ethereum ETF Holdings at the end of the fourth quarter.
SEC agreed to SEC Spot Bitcoin ETFS in early 2024, allowing institutional investors and retail trade to be bitcoin without a direct nursery to the original. This step has been widely considered as a pivotal moment for the adoption of encryption in traditional financing.
Despite the increase in participation through ETF investments, Organizational restrictions Continue preventing major banks from contracting or trading cryptocurrencies directly.
David Solomon, CEO of Goldman Sachs, in December, reiterated that organizational barriers limit banks from direct encryption ownership, saying that while the company provides advisory services on digital assets, they are restricted to Bitcoin’s contract as a manager.
The regulatory position turned
Despite the current restrictions, the organizers began to transform their positions under the new US administration. Jerome Powell, Federal Reserve Chairman Jerome Powell, recently confirmed that the Federal Reserve will will Do not prevent banks From providing encryption services, provided that the risks associated with them are managed.
He spoke to Congress on February 12, and indicated that many banks subject to federal organization are already involved in encryption under specific guidelines, but they warned of excessive exposure. However, the banks that are likely to invest and the bitcoin contract were not discussed in the treasury bonds.
Powell’s comments are in line with a broader shift towards a supportive position in Washington. The conference was recently presented Legislation of the two parties To create a clearer encrypted regulations, while the Supreme Education Council has directed its heavy approach implemented by Stop many lawsuits Against the main encryption companies.
In addition, the Treasury indicated openness to the supervision of Stablecoin, and the legislators continue to pressure for organizational clarity to prevent innovation from moving abroad.
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