BNY Mellon Names Digital Assets CEO

BNY Mellon seeks to “accelerate” its efforts in the sector after launching a digital custody and administration platform in October

article-image

rafapress/Shutterstock.com modified by Blockworks

share

The world’s largest custodian bank has named a leader for its digital assets division as it seeks to accelerate initiatives in the segment despite the ongoing crypto winter. 

BNY Mellon named Caroline Butler as its CEO of digital assets Thursday. The post is a newly created role for the bank. 

BNY Mellon's CEO of Digital Assets Caroline Butler
BNY Mellon’s CEO of Digital Assets Caroline Butler | BNY Mellon

Roman Regelman, CEO of BNY Mellon’s securities services and digital, said in a statement that Butler would lead their enterprise-wide initiatives as the company accelerates its efforts around digital assets and other emerging technologies.

“As institutional adoption of digital assets continues to evolve, we are committed to being a trusted provider of services to the broader financial ecosystem,” Regelman added.

A spokesperson declined to comment further.

Butler, who joined the company in 2020, was previously CEO of the bank’s custody services. In that role, she led development of BNY Mellon’s digital custody and administration platform for traditional and digital assets.

That platform went live in the US for select institutional clients in October.

BNY Mellon had $44.3 trillion in assets under custody or administration, as well as $1.8 trillion in assets under management, as of Dec. 31. 

Butler said in an October statement that as the world’s largest custodian, BNY Mellon is the “natural provider” to create a safe custody platform in the space for institutional clients.

A research report by the bank published that month found 70% of surveyed institutional investors would increase digital asset activity “if services like custody and execution are available from recognized, trusted institutions.” 

Ed Groshans, a senior research and policy analyst at Compass Point Research & Trading, told Blockworks last month, BNY Mellon could be well-positioned to be a leader in the space after events such as the crash of FTX shook the industry. 

“They can really flesh out their business model over the next several months to several years to put themselves as a linchpin of trust in the crypto space from a custody perspective,” he said.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

tg trading bot report graphic.png

Research

Telegram trading bots have found their primary niche in highly speculative token launches and retail-dominated memecoin markets, with many features specifically tailored to token sniping and copy-trading strategies.

article-image

Ethereum is hoping that increased DA will grow user demand — and its profits through DA fees

article-image

11 years ago, Bitcoin contributors prevented a supply crisis… two centuries from now

article-image

Both samczsun and ZachXBT have issued warnings after the Bybit hack last month

article-image

The investor criticized Michael Saylor’s plan to render his personal bitcoin holdings inaccessible to anyone else forever

article-image

The exchange has structural defenses and protocols to limit manipulations

article-image

Upshift is being spun out of August, which raised $10 million earlier this month