Bitcoin (BTCUSD)

[ap17]

From Nutshell:
AMERICA’S OLDEST BANK HAS BTC 🏦

BREAKING: $2 trillion asset manager BNY Mellon discloses Bitcoin ETF exposure

BNY
BNY Mellon (the oldest bank in America) is investing in spot Bitcoin ETFs.

A quarterly SEC filing has revealed that BNY Mellon has exposure to the Bitcoin through the ETFs.

But which ETFs are they buying? 🤔

Well the filing reveals that they currently have 19,918 shares of BlackRock’s IBIT and 7,108 shares of Grayscale’s GBTC.

At current market prices, their total investment translates to ~$1.126 million ($723,000 in IBIT + $403,000 in GBTC)

Q tweet
For a firm with $2 trillion in assets under management, $1.126 million isn’t that large of an investment.

But the main point here is that institutions are just beginning to allocate to Bitcoin.

Remember…

Bitcoin has only been an institutional grade asset for 3 months.

(Plus it’s pretty big that the OLDEST bank in America has exposure to Bitcoin)