Breakout: grayscale picks BNY Mellon as etf service provider for upcoming bitcoin ETF

Grayscale, the world’s largest digital asset manager, today announced BNY Mellon, the oldest deposit Bank, as its etf service partner when it converted its popular corporate BITCOIN product GBTC into a BITCOIN ETF. BNY Mellon will act as a service provider that will provide accounting and management of the gbtc fund until it is converted into an ETF.

The digital asset manager announced plans a few months ago to convert the very popular BITCOIN trust $GBTC into a bitcoin ETF.

Michael Sonnenschain, chief executive of graysdale Investments, said bny Mellon was one of the Sunday leaders in asset management and trust, describing their partnership as a major milestone in the company’s roadmap to achieving etf targets. Said:,

“BNY Mellon’s involvement is an important milestone as part of our commitment to transforming the Grayscale Bitcoin Trust into an ETF. BNY Mellon has long had a reputation as a reliable seller and has built one of the first teams to support the growing asset class in the digital currency. We are pleased that Bny Mellon has joined a group of best-in-class grayscale service providers, which will help us deliver a seamless, industry-leading investment experience.”

 

Breaking message: grayscale selects BNY Mellon as an ETF service provider for its upcoming Bitcoin ETF.

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