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Bitcoin Hits New All-Time High as BNY Mellon Announces Crypto Custody
"Bitcoin is loving the BNY Mellon news. It's a very big deal," trader and analyst Alex Kruger tweeted.
Updated Sep 14, 2021, 12:10 p.m. Published Feb 11, 2021, 1:49 p.m.
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Bitcoin set a new record highs on Thursday after BNY Mellon, America's oldest bank, announced crypto custody for institutional clients.
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The cryptocurrency set a new high of $48,297 during the U.S. trading hours, surpassing the previous peak price of $48,226 registered on Tuesday, according to CoinDesk 20 data.
Buyers stepped in around $46,700 after BNY Mellon said it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients.
"Bitcoin is loving the BNY Mellon news. It's a very big deal," trader and analyst Alex Kruger tweeted.
A wave of institutional adoption has hit the bitcoin market this week, pushing prices higher by 22%.
On Monday, the U.S. electric car maker Tesla (TSLA) , a Fortune 500 company, announced bitcoin purchases worth $1.5 billion, bolstering the cryptocurrency's appeal as a reserve asset. Payments giant Mastercard (MA) said early Thursday it is planning to allow merchants to accept crypto payments.
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Abu Dhabi wealth funds bitcoin ETF holdings topped $1 billion at end of 2025
Both Mubadala Investment Company and Al Warda Investments lifted investments in BlackRock's iShares Bitcoin ETF (IBIT) in the fourth quarter.
What to know:
- Two major Abu Dhabi investment firms, Mubadala Investment Company and Al Warda Investments, increased their holdings of BlackRock’s iShares Bitcoin Trust (IBIT) in the fourth quarter of 2025 as bitcoin’s price fell.
- Mubadala lifted its IBIT stake to 12.7 million shares and Al Warda to 8.2 million shares.
- Together, they held a combined position that exceeded $1 billion at the end of 2025 but has since declined to just over $800 million amid further bitcoin losses in 2026.
