Crypto: 91% Institutional Managers Interested in Tokenized Assets
According to a report by BNY Mellon, 91% of institutional asset managers, asset owners, and hedge funds are interested in tokenized assets. As per BNY Mellon CEO Robin Vince, 40% of them already hold crypto in their portfolios. Additionally, about 75% are invested in digital assets or are exploring the space. On October 11th, BNY Mellon became the first major financial institution in the US to offer  ;Ethereum (ETH) and Bitcoin (BTC) custody services to institutional clients . The service allows select institutional clients the option of holding and transferring BTC and ETH on the same platform as stocks and bonds. According to the BNY CEO, the crypto asset custody service is “the beginning of a much broader journey.” Vince imagines the tokenization of a plethora of assets and currencies. According to Vince, many of those assets can be better managed when tokenized. Nonetheless, Vince did say that it could take years, or even decades, for the industr...