US Securities and Exchange Commission boss Gary Gensler says BNY Mellon could hold digital assets beyond exchange-traded funds.

America’s largest custodian, BNY Mellon, has received regulatory approval to offer crypto custody to its clients. The consent was an upgrade of an earlier permission to provide custody for Bitcoin and Ethereum spot ETFs.

Per a Bloomberg report, Gensler has green-lighted BNY Mellon’s expansion beyond the ETFs as far as it imbibes with its approved system of custody. The SEC chair asserted that although the initial proposal was for the two largest cryptocurrencies by market cap, the structure allows for any digital asset custody.

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