nextcryptoetfs?

According to Odaily, Grayscale has submitted an S-1 form to the U.S. Securities and Exchange Commission (SEC) for a Solana Exchange-Traded Fund (ETF). 

BNY, America’s oldest running bank, has deepened its foot into blockchain, recently launching a new blockchain accounting tool, with BlackRock as first client.
Follow LACHAKARI Crypto

According to a recent report by Fortune, Bank of New York Mellon Corporation (BNY) has introduced its latest blockchain-based accounting tool. 
BlackRock Becomes First Client
Interestingly, BlackRock, the world’s largest asset manager, became the first institution to adopt the new platform, which looks to modernize fund accounting by providing real-time insights into tokenized assets.

This newly launched tool directly records and updates a fund’s net asset value (NAV) on a blockchain, eliminating the reliance on third-party accounting services. By doing so, BNY is making fund management more transparent and efficient. 
Notably, the report confirmed that BlackRock will integrate this solution into its on-chain money market fund, BUIDL,allowing investors to access real-time financial data more seamlessly.
Caroline Butler, BNY’s head of digital assets, highlighted that this blockchain-powered product helps with visibility and accessibility within the financial ecosystem. She noted that the innovation builds on BNY’s expertise in digital assets, a sector that has gained increasing traction in recent years. 
The move comes as the broader industry trend turns toward tokenizing financial instruments to improve cost efficiency and operational effectiveness. 
Changing Regulatory Atmosphere 
Notably, BNY has steadily expanded its blockchain capabilities despite initial regulatory roadblocks. Under the previous U.S. administration, the Securities and Exchange Commission (SEC) introduced stringent balance-sheet requirements for banks holding crypto assets for clients. 

This created hurdles for financial institutions exploring digital asset custody. However, after obtaining regulatory exemptions in 2024, BNY resumed its crypto custody services, allowing the bank to hold Bitcoin and Ethereum for exchange-traded products. 
The regulatory landscape has since shifted further under the current administration, enabling more seamless blockchain adoption within traditional finance.
The launch of this accounting tool shows a change in how traditional financial institutions approach blockchain integration. 
While digital assets were once seen as volatile and risky, leading firms like BlackRock have actively embraced tokenization as a way to modernize fund management. Recall that BlackRock’s CEO Larry Fink recently suggested that every financial asset could be tokenized.
BNY’s Expanding Footprint in Blockchain and Crypto
BNY’s dabble with blockchain is not new. The bank has been actively developing digital asset services for several years. In 2022, the firm launched its Digital Asset Custody Platform, allowing select clients to store and transfer Bitcoin and Ethereum. 
A year earlier, the bank established its Digital Assets Unit, a dedicated division focusing on blockchain-based financial solutions. The unit has since worked on integrating blockchain technology into various financial services, including trade finance. 
In 2021, BNY joined the Marco Polo Network, leveraging distributed ledger technology to streamline global trade operations. Additionally, BNY Investment Management launched a Blockchain Innovation Fund in Singapore, providing investors exposure to companies adopting blockchain technology.
DisClamier:
This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect LACHAKARI Crypto opinion. Readers are encouraged to do thorough research before making any investment decisions. LACHAKARI Crypto is not responsible for any financial losses.
$BTC
#BlackRock⁩ #blackRock #NextCryptoETFs? #BTC☀ #BinanceAlphaAlert