BNY Mellon, the country’s oldest bank, has been chosen to offer asset services for Grayscale’s main investment product, the Bitcoin Trust (GBTC).
Grayscale Bitcoin Trust will begin receiving fund accounting and administration services from BNY Mellon on October 1.
Grayscale, a digital asset management, stated that BNY Mellon has been named as the asset servicing provider for the Bitcoin Trust after it is transformed into an exchange-traded fund (ETF).
Between June 26 and July 2, the price of Elrond had an extraordinary rise, which was followed by a severe decline after piercing the high probability reversal zone. The pullback will continue until it reaches a level of support that is adequate.
After an 82 percent increase between June 26 and July 2, the price of Elrond has retraced around 23% in the last week. Due to the exponential growth in EGLD’s market value and the entry into a high likelihood reversal zone stretching from $96.91 to $108.83, the downswing was unavoidable.
While trading in a declining channel since June 30, the price of XLM generated a wider symmetrical triangle formation on July 7. The longer-term picture remains bearish for the time being, but there is signs that Stellar is on the verge of a minor rebound on intra-day charts, which might test the channel’s upper trendline or perhaps the 50 six-hour simple moving average (SMA).
The price of XLM decisively broke out of a symmetrical triangle formation on July 7, marking the second such pattern to trigger since June 11./n
