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Wall Street Courts Crypto Custody, But With Fingers Crossed

Bank of New York Mellon is among big institutions that are charting a path to crypto via custody services.  

Bank of New York Mellon is among big institutions that are charting a path to crypto via custody services.  

Photographer: Gabriela Bhaskar/Bloomberg
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Welcome to Bloomberg Crypto, our twice-weekly look at Bitcoin, blockchain and more. In today’s edition, Yueqi Yang explores one TradFi’s main gateways to crypto:  

Wall Street institutions looking to enter the wild world of crypto are starting by tackling the boring part: custody services. But even that sedate entry point involves major caveats and uncertainty.