According to CoinMeta, BNY Mellon announced a five-year digital asset custody agreement with Invesco Galaxy Bitcoin ETF, becoming the custodian of that ETF's Bitcoin assets. As per the SEC document dated November 12th, the agreement took effect on November 6th, allowing BNY Mellon to establish isolated accounts for the Bitcoin holdings of ETF. This ETF conducts transactions on CBOE BZX and is codenamed BTCO; it will use both BNY Mellon and Coinbase Custody Trust Company for the storage of Bitcoin. The SEC document clearly states that the existing Coinbase arrangements are not affected by the new agreement. BNY Mellon will establish and maintain isolated digital asset accounts under its control, and the contract requires coverage for storage, insurance, and care standards. The initial term of the agreement is five years, after which it will automatically renew for another year, unless either party notifies in advance or the contract is terminated early. BNY previously served as the cash custodian for BTCO, while Coinbase is responsible for the management of the underlying cryptocurrencies. This agreement extends BNY's responsibilities beyond traditional fund operations.