Bitcoin surges to all-time high after BNY Mellon embraces cryptocurrencies

Bitcoin on Thursday jumped over 8% to an all-time high of $48,481 after Bank of NY Mellon said it had formed a new unit to help clients hold, transfer and issue digital assets.

The new unit at BNY Mellon, called the Digital Assets unit, is expected to roll out the offerings later this year, the bank said.

Bitcoin was last up 5.7% at $47,387.