UBS to OK Crypto for Wealthy Clients – Time to Invest in Bitcoin
Last Updated: 10 May 2021
If UBS follows through, it will be among the top US institutions looking for a way of venturing into the crypto space. The demand for crypto assets has been high recently, causing firms to look for ways to meet this demand.
Risky investment option
UBS is a Swiss firm that offers a wide range of investment options to its clients. The company is looking for several avenues that will help them safely invest in the crypto space. Sources close to the firm indicate that any form of crypto investment offered will only be a portion of the investor’s total portfolio. This is to safeguard investors from the high market volatility experienced in the crypto market.
Citi Considers Launching Bitcoin Custody, Crypto Trading
Bitcoin (CRYPTO: BTC) and other crypto assets.
What Happened: According to The Financial Times report, Citigroup s global head of foreign exchange Itay Tuchman said that the bank is considering launching Bitcoin and other crypto services due to surging interest in Bitcoin from asset managers and hedge funds.
He admitted that the institution has not yet decided whether it intends to launch those products but admitted that custody and financing were all under consideration.
“There are different options from our perspective and we are considering where we can best service clients,” Tuchman said.
The bank saw a very rapid accumulation of interest in Bitcoin from its customers, including large asset managers.Some of those customers asked the bank for research, while other requested the launch of cryptocurrency trading services and to finance deals with their crypto assets.
Pop up search form
Bank of New York Mellon Corp (BK): Price Up $0.03 (0.06)% Over Past Day, Down $-0.45 (-0.89)% Over Past Hour
At the time of this writing, BK (
Get Ratings)’s price is down $-0.45 (-0.89%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the
clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the
20 hour moving average has been crossed, so that price is now
BNY Mellon Says Fund Performance Hurt By Lack Of Exposure To Bitcoin Stocks
Wall Street banking giant
Bank of New York Mellon Corp (NYSE:BK) said the performance of one of its exchange-traded funds was considerably impacted by its lack of exposure to crypto stocks.
What Happened: In a recent SEC filing, the bank said that the BNY Mellon Opportunistic Small Cap Fund (MUTF: DSCVX) could have performed better if it had invested in a certain Bitcoin stock.
“Fund performance was hurt as well by a decision not to own MicroStrategy, whose stock surged when it announced it had invested in bitcoin,” stated BNY Mellon in the filing.
Thursday, April 22, 2021
Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business. Recent developments include:
SEC Whistleblower Program Awards Total Over $23 Million in the First Quarter of 2021, Including Award Based on DOJ Non-Prosecution Agreement
Although its awards were substantially lower than those during the record-setting quarter at the end of 2020, the SEC Whistleblower Program distributed sizable awards in the first quarter of 2021 to whistleblowers whose information led to an enforcement actions. Notable awards issued this quarter include the following:
On February 23, 2021, the SEC announced an award of more than $9.2 million to a whistleblower who provided information that led to successful related actions by the U.S. Department of Justice, including a non-prosecution agreement (NPA) or deferred prosecution agreement (DPA).