[Digital Today Reporter Hyunwoo Choo] One of the top 10 banks in the United States and the oldest bank in the United States, BNY Mellon is seeking to enter the virtual asset (cryptocurrency) market, and Coinpost reported on the 8th (local time). .
New York Melon Bank was recently chosen as the provider of Bitcoin ETF services for a large hedge fund, SkyBridge Capital.
Accordingly, if the U.S. Securities and Exchange Commission (SEC) approves a bitcoin ETF, New York Melon Bank will provide services for ETF operations such as funding, remittance, and money management of Skybridge Capital.
Separately, New York Melon Bank plans to launch some virtual asset transaction and deposit and withdrawal services, including bitcoin, within this year.
In March, a total of $133 million was invested in Fireblocks, a virtual asset custodial company, in collaboration with Libit Capital and Stripe. It is becoming a fixed fact.
Currently, not only Skybridge, but also financial institutions and virtual asset investment companies such as Fidelity, VanEck, and NYDIG are waiting for approval after submitting business applications to the SEC. However, there is no case of a Bitcoin ETF officially launched in the US market yet.
However, as major mainstream financial companies such as Fidelity and New York Melon Bank are fully entering the virtual asset market, expectations for the SEC’s Bitcoin ETF approval are also rising, Coinpost said.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.