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Which institution will have the largest amount of cryptocurrency assets under custody by June 30, 2025?
2
Resolution / Starting Odds
BNY Mellon • 25%
State Street • 25%
Goldman Sachs • 25%
Other • 25%
Official financial reports from BNY Mellon, State Street, Goldman Sachs, or major financial news outlets
Story
Banks, Including BNY Mellon, State Street, and Goldman Sachs, Approved to Custody Cryptocurrencies
Sep 26, 2024, 09:38 PM
Banks have been approved to custody cryptocurrencies, marking a significant development for the crypto industry. This move is expected to bring cryptocurrencies closer to mainstream adoption. The approval includes major financial institutions such as BNY Mellon, State Street, and Goldman Sachs. BNY Mellon, the largest custodian bank in the world with $50 Trillion in assets, received approval from the SEC to offer crypto custody services beyond ETFs. This development also indicates progress in allowing banks to avoid the requirements of SAB 121, which previously limited their ability to custody digital assets. The approval is seen as a monumental step for the industry, potentially leading to broader institutional adoption.
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