Insight into BNY Mellon Custody Services for Cryptocurrencies
America’s oldest bank, BNY Mellon, has entered the crypto space by offering custody services for cryptocurrencies like Bitcoin and Ethereum as of 2022. This move was prompted by the increasing demand from institutional investors for a platform that can accommodate both traditional and digital assets seamlessly. The bank has taken a progressive step towards embracing the digital asset landscape by extending its services to include popular cryptocurrencies.
– BNY Mellon started supporting cryptocurrencies like Bitcoin and Ethereum through its custody services in 2022
– The bank responded to the growing institutional demand for a platform that can handle traditional and digital assets effectively
– This move signifies BNY Mellon’s willingness to adapt to the emerging digital asset landscape and cater to the needs of institutional investors
BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund Payout Announcement
On April 25, 2024, BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (NYSE: DCF) announced a monthly payout of $0.035 per share of common stock. This payout is scheduled for investors who hold shares by May 9, 2024, and will be distributed on May 23, 2024. The fund aims to distribute most of its profits to shareholders on a monthly basis, subject to the performance of its investments and market conditions.
– BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. declared a monthly payout of $0.035 per share of common stock
– Investors holding shares by May 9, 2024, are eligible for the payout scheduled for May 23, 2024
– The fund intends to share a significant portion of its profits with shareholders every month, depending on its investment performance and market conditions
America’s Oldest Bank BNY Mellon’s Bitcoin ETF Exposure
BNY Mellon recently disclosed its investment in Bitcoin (BTC) ETFs through a filing with the US Securities and Exchange Commission (SEC). The disclosure revealed the bank’s stake in BTC ETFs managed by prominent investment firms such as BlackRock and Grayscale. This strategic move indicates a notable shift in the traditional finance sector towards recognizing cryptocurrency as a legitimate investment option, particularly among institutional investors.
– BNY Mellon disclosed its investment in Bitcoin (BTC) ETFs managed by major investment companies like BlackRock and Grayscale
– The bank’s filing with the US SEC highlighted its position in BTC ETFs, signaling a shift towards cryptocurrency acceptance in the traditional finance industry
– This move suggests increasing interest in digital assets among institutional investors and a shift towards embracing cryptocurrency as a viable investment avenue
Global Impact of Bitcoin ETFs
The approval of spot Bitcoin ETFs by the US SEC earlier this year has had a significant impact on the market, with Bitcoin reaching a new peak of $73,737 in March. Furthermore, Hong Kong’s approval for spot Bitcoin and Ethereum ETFs, set to commence trading on April 30, 2024, indicates a broader acceptance of cryptocurrencies on a global scale.
– The approval of spot Bitcoin ETFs by the US SEC led to a surge in Bitcoin price, reaching $73,737 in March
– Hong Kong’s approval of spot Bitcoin and Ethereum ETFs signals a growing acceptance of cryptocurrencies worldwide
– Analysts predict Bitcoin to reach $85,195 by May 23, 2024, with expectations of a potential Ethereum ETF approval in the US triggering further market growth
Hot Take: Closing Insights for Crypto Enthusiasts
As the traditional financial sector, led by institutions like BNY Mellon, continues to embrace cryptocurrencies and explore investment opportunities in digital assets, the landscape of finance is evolving rapidly. The approval of Bitcoin ETFs and the growing acceptance of cryptocurrencies globally indicate a shift towards a more inclusive and diverse investment environment. Crypto enthusiasts can expect further developments in the market and potential investment opportunities on the horizon.
By
By
By