ST STT State Street Corporation Loading... : Bullish and Bearish Analyst Opinions

The author lists three financial infrastructure tickers in reply to a parent asking for additions, but provides no explicit position or forward call.

Trenholme states the new model allows clients to "settle against us from any custodian in the market and their custodian of choice." This "custodian agnostic" approach is a massive catalyst for the largest institutional custodians. As trading friction drops, the velocity of assets held at BNY Mellon, State Street, and Coinbase Prime will increase, driving higher custody and settlement fees without requiring the custodians to take execution risk. Long the custody layer as the primary beneficiaries of the "unlocked" institutional capital. Fee compression in the custody sector or a shift toward self-custody technologies (MPC) bypassing third parties.