What is BNY Mellon doing with Bitcoin?

This article is more than 2 years old. New York-based banking giant BNY Mellon is jumping into the bitcoin and cryptocurrency game. The bank, which boasts around $2 trillion in assets under management, has announced plans to hold bitcoin and other cryptocurrencies on behalf of its clients.

Does Bank of New York Mellon own cryptocurrencies?

REUTERS/Brendan McDermid/File Photo Acquire Licensing Rights Oct 11 (Reuters) - Bank of New York Mellon Corp (BK.N) is adding cryptocurrencies to assets that it holds as a custody manager, as it looks to attract a diverse set of investors and traders by tapping into the popularity of bitcoins and ethers.

What does BNY Mellon stand for?

The Bank of New York Mellon Corporation, commonly known as BNY Mellon, is an American investment banking services holding company headquartered in New York City. BNY Mellon was formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007.

Is BNY holding Bitcoin?

The bank, which boasts around $2 trillion in assets under management, has announced plans to hold bitcoin and other cryptocurrencies on behalf of its clients. The move comes amid what the BNY executive heading up its digital assets unit, Mike Demissie, called an "uptick in institutional interest" in the emerging bitcoin and crypto asset class.