Follow along as Valkyrie's Head of Portfolio Management, Bill Cannon, highlights a notable "byte" from the markets each week.
Bill's Byte:
Progress in digital asset management made great strides this week as BNY Mellon will start receiving cryptocurrency this Tuesday, becoming the first large U.S. bank to safeguard digital assets alongside traditional investments on the same platform. The move marks an important milestone for traditional banks and their growing acceptance of digital assets as a legitimate market and a source of new business. Despite the challenging market environment, digital infrastructure is being built to accommodate the integration of crypto with traditional assets. Collaborations between established and newer digital asset companies are picking up momentum, especially after last week's Nasdaq digital custody announcement and Blackrock Aladdin's integration during the summer. Google also turned a page in digital transactions by working with Coinbase to allow customers to pay for cloud services with cryptocurrencies next year. Crypto winters have been a time to build. Please read through these exciting developments.
