BNY Mellon Launches Bitcoin, Ethereum Custody Services in Abu Dhabi
BK•BNY Mellon has inaugurated Bitcoin and Ethereum custody services in Abu Dhabi, marking its entry into the UAE’s institutional digital asset market. Ethereum now trades at $2,291, down 54% from its August 2025 peak, with forecasts ranging from $3,000 by month-end to $10,000–$11,000 by 2030.
1. BNY Mellon Enters UAE Crypto Custody Market
BNY Mellon has introduced institutional-grade custody services for Bitcoin and Ethereum in Abu Dhabi, leveraging local regulatory approvals to offer secure storage and asset protection. This marks the firm’s first direct custody presence in the Middle East, aiming to attract regional institutional investors seeking compliant digital asset solutions.
2. Ethereum Price Trends and Forecasts
Ethereum has declined 54% from its August 2025 high to trade at $2,291, reflecting broader market retracement. Analysts forecast a rebound to $3,000 by the end of May, while longer-term projections range between $10,000 and $11,000 by 2030, underscoring ongoing volatility and growth expectations.
