The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
BNY, the world's largest custodian bank, is expanding its digital asset footprint by launching Bitcoin and Ethereum custody services in Abu Dhabi as Bitcoin trades above $80,000. In a significant milestone for the industry, the number of major financial institutions integrating Bitcoin services has now reached 24. This trend is further evidenced by a new SEC filing revealing that UBS Group holds official exposure to XRP funds. These moves coincide with a 7% growth in institutional Bitcoin holdings, leveraging Abu Dhabi's regulatory framework to meet rising demand. While Ethereum continues to struggle with network outflows, the broader market outlook remains optimistic. State Street projects that multi-coin ETFs will become the next major driver by 2026, underscoring the deepening integration between traditional banking and regulated crypto infrastructure.
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