Share this article
BNY Mellon Would Be Service Provider for First Trust, SkyBridge’s Proposed Bitcoin ETF
The custody bank would provide ETF basket operations, order taking, fund accounting, fund administration and transfer agency services.
Updated Sep 14, 2021, 12:38 p.m. Published Apr 8, 2021, 3:44 p.m.
BNY Mellon, the world’s largest custodian, would be the service provider for a proposed bitcoin exchange-traded fund (ETF) that would be offered by First Trust Advisors and SkyBridge Capital.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
If the ETF is approved, the custody bank would provide ETF basket operations, order taking, fund accounting, fund administration and transfer agency services, according to the firm’s press release.
First Trust and SkyBridge’s bitcoin ETF application is one of several made recently. WisdomTree, NYDIG, Valkyrie and VanEck have all filed but the U.S. Securities and Exchange Commission, which has historically rejected bitcoin ETF applications, hasn’t made a decision on any of the recent crop of filings. Most recently, Grayscale, a CoinDesk sister company, announced its intention to convert the closed-end Grayscale Bitcoin Trust to an ETF when it is “permissible” to do so.
If bitcoin ETFs are approved this year, analysts believe that while they will primarily compete on fees and liquidity, they will also likely compete on custody and insurance options.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
