Digital currency asset manager Grayscale Investments LLC. has tapped BNY Mellon to serve as the asset servicing provider for its Bitcoin Trust, the company reported in a statement.
- Under the agreement, BNY Mellon will provide accounting and administrative services to the Grayscale Bitcoin Trust starting October 1, 2021. BNY will also provide transfer agency and ETF Services upon the trust’s conversion to an exchange-traded fund.
- Grayscale Investments Chief Executive Michael Sonnenshein said the partnership is in line with the commitment to convert Grayscale Bitcoin Trust into an ETF, with BNY Mellon’s technology designed specifically for digital asset ETFs.
- BNY Mellon Chief Executive Roman Regelman said the company will benefit from the partnership with Grayscale being the world’s largest digital currency asset manager. He called it “another critical mission” in growing the firm’s digital asset capabilities.
Grayscale in April said it is fully committed to converting the trust into an ETF as soon as the go signal is secured from regulators. GBTC is down 0.67%, BK down 1.01%, and BTC down 2.52%.