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Monday, June 10, 2024
HomeCryptoThe positive report on cryptocurrencies comes from the oldest US bank BNY...

The positive report on cryptocurrencies comes from the oldest US bank BNY Mellon

The latest report coming from BNY Mellon Bank in the United States has made the crypto community excited and happy.

A new report comes from Bank of New York Mellon (BNY Mellon), one of the giants on Wall Street, they claim that interest in Bitcoin and cryptocurrencies continues to grow day by day.

In the report, BNY Mellon revealed that family offices are increasingly gaining exposure to digital assets. Special, Cryptocurrencies make up more than 5% of their portfolio.

According to the 2024 BNY Mellon Wealth Management Survey, about 39% Family offices surveyed are actively investing in or considering cryptocurrencies.

This ratio highlights the deep interest in this potential market, with BNY Mellon saying that some family offices remain hesitant about investing in BTC and cryptocurrencies.

In there, 38% of participants survey expressed the not interested in cryptocurrency, Citing concerns about the high volatility of this market and the uncertain regulatory environment, they also stated that their hesitations included concerns about hacking and cybercrime.

In keeping with their business models, family-run companies assume they are ready and willing to tap into new and emerging opportunities.

Cryptocurrencies make up 5% of their portfolio, an allocation that would have been unimaginable a decade ago.

Most notably, among those researching or investing in cryptocurrencies, ETFs are gaining popularity, while some have expressed a preference for trading directly on exchanges.

What is a family office?

Family offices are privately owned organizations founded by wealthy families to manage their assets, plan for their family’s financial future, take advantage of investment opportunities, and provide other services to family members.

This financial company now owns more Bitcoin than any other country

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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