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Whilst you may have already read the news - I thought it worth re-sharing as its easy to glance over announcements given how frequent they are in the crypto space.
BNY Mellon is the oldest and largest bank in the U.S with over $43T AUM. The bank has been around for over 238 years!
On Tuesday, BNY Mellon announced that it had partnered with Fireblocks to provide custody and trading services to its clients.
Upon being interviewed, CEO of BNY Robert Vince noted that over 91% of their institutional clients had interest in investing in tokenised assets, with 41% already having some form of exposure to the asset class.
An announcement like this, similar to the announcement of Blackrock entering the space should give all of us reason to pause and evaluate where the market is today, ~80% off all time highs.
Could markets decline further? Absolutely. Is entering now a good time? Who knows. Ultimately, the sector is gaining fundamental traction and buy-in. I believe many investors are risk-off and underweight digital assets currently.
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