The Bank of New York Mellon (BNY) is holding more than $13 million worth of shares in Bitcoin (BTC) exchange-traded funds (ETFs).
The bank’s holdings include 115,108 shares of WisdomTree Bitcoin Fund (BTCW) worth about $11.87 million and 25,309 shares of BlackRock’s iShares Bitcoin Trust (IBIT) worth about $1.4 million, according to a new filing submitted to the U.S. Securities and Exchange Commission (SEC).
[adinserter block="1"]BNY isn’t the only banking giant to buy into Bitcoin ETFs: JPMorgan Chase holds nearly $1 million worth of BTC ETF shares.
Meanwhile, Goldman Sachs currently holds $1.63 billion worth of Bitcoin ETF shares and $196.3 million worth of Ethereum (ETH) ETF shares.
BTC and ETH-based ETFs – which allow investors to expose themselves to the top two digital assets by market cap without having to actually physically purchase them – were approved by the SEC in 2024.
In December, Goldman Sachs chief executive David Solomon said that regulations need to change before the bank considers holding and trading digital assets outright.
Said Solomon at the time,
“At the moment, as a regulated banking institution, we’re not allowed to own a cryptocurrency like Bitcoin as a principal. We give our clients advice around a variety of these technologies and these issues and will continue to do that, but for the moment our ability to act in these markets is extremely limited from a regulatory perspective.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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