Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), stated that the custody model used by Bank of New York Mellon (BNY Mellon) for cryptocurrency exchange-traded funds (ETFs) could potentially be extended beyond Bitcoin and Ethereum. According to ChainCatcher, Gensler emphasized that the structure of the custody model is not specifically tied to a particular cryptocurrency, indicating its adaptability for broader use in the crypto space.