State Street to provide fund admin for VanEck Bitcoin ETF
The VanEck Bitcoin Trust is one of the most hotly anticipated crypto-tracking ETFs following several attempts by the investment manager to launch the fund.
The VanEck Bitcoin Trust is one of the most hotly anticipated crypto-tracking ETFs following several attempts by the investment manager to launch the fund.
State Street’s Luxembourg branch will take on the activities previously carried out by its subsidiary Fideuram Bank Luxembourg, accounting for approximately €42 billion of assets.
Mandate follows agreement in January to integrate Amundi’s portfolio management system into BNY Mellon’s front-to-back technology infrastructure.
The mandate for CIBC Mellon follows the recent announcement by its parent company, BNY Mellon, that it would set up a new Digital Assets unit.
Depositary will become part of the JTC group which also consists of the recently acquired NES Financial.
Ultimus will provide Public Trust with fund accounting and transfer agency services to 12 local government investment pools (LGIP) funds.
While satisfaction in the digital capabilities of transfer agents and fund administrators appear to be at a low, it is paving the way for new entrants to showcase their abilities, according to Ultimus Fund Solutions.
State Sreet will provide performance and analytics solutions, and fund services to the pension fund’s $4.7 billion real estate portfolio.
The launch of the tool comes as regulators are preparing to increase scrutiny on asset managers to oversee their third-party providers.
The Catalyst Group recently received approval from the Cayman Islands Monetary Authority (CIMA) to launch its new range of fund services.