Thomas Daniels
BNY Mellon, the world’s largest custodian bank, has introduced a new digital tool designed to broadcast fund accounting data directly onto blockchain networks. The launch of the Digital Asset Data Insights platform marks a significant expansion of the firm’s digital asset capabilities, targeting improved security, efficiency, and transparency in fund data delivery.
BlackRock, one of the largest global asset managers, will serve as the inaugural client. BNY Mellon will transmit the net asset value (NAV) of BlackRock’s USD Institutional Digital Liquidity Fund—known as BUIDL—on the Ethereum blockchain. BUIDL, a tokenized short-term U.S. Treasury fund launched in 2024, offers qualified investors blockchain-based access to U.S. dollar yields.
According to Caroline Butler, Global Head of Digital Assets at BNY Mellon, transparent data access is increasingly vital to institutional clients. The new platform enables end-to-end servicing of digital assets on distributed ledger infrastructure while maintaining trusted data integrity.
Robert Mitchnick, Head of Digital Assets at BlackRock, called the move a landmark development for the industry, citing its potential to enhance transparency and accessibility for investors. By enabling off-chain data to interact with public blockchains, BNY Mellon is helping define a new standard for innovation in digital asset management.
This initiative is part of BNY Mellon’s broader strategy to expand its blockchain footprint. In addition to supporting tokenized funds, the custodian has invested in spot Bitcoin exchange-traded funds and has positioned itself to offer crypto ETF custody, reflecting a growing institutional interest in digital financial infrastructure.
