BNY Mellon Partners With Grayscale Investments Service GBTC and Its Bitcoin ETF

The new agreement further reinforces Grayscale’s commitment to converting Grayscale Bitcoin Trust into an ETF as its strategic goal. The bank of New York Mellon, America’s oldest bank, has signed an agreement with cryptocurrency asset manager Grayscale Investments to provide a set of services to its flagship Bitcoin (BTC) investment product.Grayscale officially announced Tuesday that it selected BNY Mellon as an asset servicing provider for Grayscale Bitcoin Trust (GBTC), a major digital currency investment product providing indirect exposure to Bitcoin.BNY Mellon is also expected to....

Grayscale Investments has confirmed its plan to file for its bitcoin trust (GBTC) to be converted into a bitcoin exchange-traded fund (ETF). “The NYSE Arca will file a document called the 19b-4 to convert GBTC into an ETF,” said Grayscale’s official. GBTC to Become Bitcoin ETF Grayscale Investments has confirmed that it will convert its flagship product, Grayscale Bitcoin Trust (GBTC), into a bitcoin exchange-traded fund (ETF). Jennifer Rosenthal, Grayscale’s communications director, tweeted Monday: Today, I’m happy to confirm that....

Grayscale Investments has engaged the oldest bank in the U.S., BNY Mellon, to provide asset servicing for its bitcoin trust. The bank will also provide ETF services for the bitcoin trust upon its conversion to an exchange-traded fund (ETF). Grayscale Teams up With BNY Mellon Grayscale Investments announced Tuesday that it has selected the Bank of New York Mellon (BNY Mellon) as an asset servicing provider for Grayscale Bitcoin Trust (OTCQX: GBTC). The announcement explains: Through this agreement, BNY Mellon will provide Grayscale Bitcoin Trust with fund accounting and administration....

Just a few days after GBTC traded at a 15% discount to its BTC equivalent, Grayscale Investments has temporarily closed the trust to investors. Grayscale Investments’ Grayscale Bitcoin Trust (GBTC) has been under the heat for the last couple of weeks as it traded below the Bitcoin equivalent for each share. The instrument trades on over-the-counter markets and is by far the largest listed cryptocurrency asset.Periodically, the private-placement offerings for GBTC shares are temporarily closed, along with similar products offered by Grayscale Investment such as its Ethereum trust. As of....

Earlier this Monday, Grayscale Investments announced its plans to transform Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund. Up until recently, GBTC was one of the only investment funds for institutions and retail investors alike. Amidst growing competition, however, the fund’s high management fees and stringent lock-up periods lost favor with many investors. Since February, GBTC had continued to trade at a negative premium — meaning that the fund was trading below the price of […]