Grayscale Investments Forges Agreement with BNY Mellon
Grayscale Investments announced today that it has selected BNY Mellon as an asset servicing provider for Grayscale Bitcoin Trust (OTCQX: GBTC), the flagship product of Grayscale Investments LLC (Grayscale). Through this agreement, BNY Mellon will provide Grayscale Bitcoin Trust with fund accounting and administration effective October 1, 2021. Additionally, it is anticipated that BNY Mellon will provide transfer agency and ETF Services for the Grayscale Bitcoin Trust upon its conversion to an ETF.
Grayscale Logo for Joint Announcement
The agreement will offer Grayscale improved scalability, resiliency, and automation through BNY Mellon's market-leading platform, including BNY's proprietary ETF Center, which offers technology specifically designed to support digital asset ETFs.
"Engaging BNY Mellon is an important milestone as part of our commitment to converting Grayscale Bitcoin Trust into an ETF," said Michael Sonnenshein, CEO of Grayscale Investments, LLC. "BNY Mellon has a long-standing reputation as a trusted provider and has established one of the first teams dedicated to servicing the growing digital currency asset class. We are pleased that BNY Mellon will join a group of Grayscale's best-in-class service providers, helping us deliver a seamless, industry-leading investment experience."
The announcement reinforces Grayscale's commitment to converting Grayscale Bitcoin Trust into an ETF in accordance with the firm's strategic product pipeline. Through its innovative fund structures and leadership in attracting capital to the digital currency asset class, this relationship with BNY Mellon ensures Grayscale Bitcoin Trust is positioned for long-term success.
"Providing essential fund administration services to the world's largest digital currency asset manager further validates that BNY Mellon stands squarely at the intersection of trust and innovation," said Roman Regelman, CEO of Asset Servicing and Head of Digital at BNY Mellon. "It's another critical milestone in our rapidly growing digital asset capabilities and broader strategy of putting client choice at the center of everything we do."
As a trusted provider of investment services and the world's largest asset servicer, BNY Mellon continues to extend its capabilities for solutions to meet clients' digital assets needs in a safe, secure, and regulatory compliant manner. With over $1T in ETF assets, including being the market-leading servicer of commodities exchange traded products, BNY Mellon's collaboration with Grayscale expands the Bank's footprint in the digital asset space. For more information, visit BNY Mellon ETF Services.
About Grayscale Investments®
Grayscale Investments is the world's largest digital currency asset manager, with more than $30B in assets under management as of July 9, 2021. Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale's products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. Grayscale products are distributed by Genesis Global Trading, Inc. (Member FINRA/SIPC, MSRB Registered). For more information, please visit grayscale.com and follow @Grayscale.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of March 31, 2021, BNY Mellon had $41.7 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
NIST Graded Our Post-Quantum Cryptography. Zero Failures.
NIST's Algorithm Validation Test System generated test vectors nobody had seen, we answered them over the ACVP protocol, and NIST graded the result: 2,130 cases across ML-KEM, ML-DSA and SLH-DSA in every parameter set offered, zero failures, demo certificate A11025. This is what that proves, where we deliberately drew the claim narrower than NIST's own matrix, and why the FIPS 140-2 sunset on 21 September makes the distinction between being graded and grading yourself worth understanding.
The Problem Is Not the Problem
People treat the Jack Sparrow line as a joke. The attribution is a joke. The sentence is not. Forty years in markets says the same thing Epictetus said in 125 CE and Robert Merton named in 1948: the event is finite, and the story you appoint to govern it is not. This essay walks the quote back to its actual sources, draws the loop that turns a feeling into an order, and sets out the four places a rule written in advance cuts the loop. Faith is not a hedge. It is a stance.
What KXCO Is, and Why the Hard Problem Was Never Intelligence
The prevailing enthusiasm assumes the hard problem is intelligence. It is not. It is that banks, hospitals, courts and governments are being asked to let software act on their behalf with no way to establish who decided, on what basis, or whether the record will still read in a decade. KXCO founder Shayne Heffernan sets out the architecture that answers those questions, drawn as a graph, and argues that properly constructed AI is an amplifier of human judgement rather than a replacement for it.
AI Intelligence Scales. Accountability Does Not. Why KXCO Is Built for It.
Capability is becoming abundant and everything abundant gets cheap. What does not get cheap is the person who has to sign, and they can only carry what they can see. Four conditions follow from that, and four independent authorities reached the first of them last month without knowing it.
Every story, signed and delivered.
Subscribe to the kxco channel and get the headline, the AI-written key takeaways, and the chain-anchor link the moment we publish. Audio versions and per-ticker subscriptions arrive in the next iteration.