- Top US banks quietly roll out Bitcoin trading and custody services
- Wall Street sentiment shifts as banking executives grow increasingly pro crypto
- Several major banks still hesitate despite rising institutional Bitcoin demand
Bitcoin exposure is expanding across the US banking sector as major institutions adjust their stance toward digital assets, with River saying more than half of the largest banks have launched or planned Bitcoin services, signaling a shift in Wall Street’s crypto outlook.
In an update shared on X, River said 60% of the top 25 US banks now support Bitcoin through services such as trading, custody, and Bitcoin-backed products, reflecting rising client demand and competitive pressure.
Meanwhile, conversations among banking executives suggest resistance is easing, as Coinbase CEO Brian Armstrong said senior leaders now view crypto as a business opportunity, with one top 10 global bank CEO reportedly calling it an existential priority.
However, this warming trend follows years of strained relations, as several US banks previously faced accusations of limiting crypto firms’ access to banking services under what critics described as Operation Chokepoint 2.0, prompting a strategic reassessment.
Also Read: Bitcoin Nears $90K as Altcoins Surge and Mid Caps Explode in Sudden Rally
Big banks test Bitcoin while managing regulatory concerns
Among the largest institutions, three members of the Big Four US banks feature on River’s list, with JPMorgan Chase considering crypto trading services. Meanwhile, Wells Fargo provides Bitcoin-backed loans to institutional clients, while Citigroup explores crypto custody solutions for large investors.
Additionally, UBS has emerged as the latest major institution exploring Bitcoin services, with the Swiss banking giant assessing Bitcoin and Ether trading for its wealthiest US clients. According to Bloomberg, the move highlights how international banks are responding to growing client interest.
Despite progress, banks remain selective in their approach and continue to draw clear boundaries. Many institutions oppose yield-bearing stablecoins, arguing these products could pose risks to financial stability, which keeps the focus on institutional and high-net-worth services.
Major institutions still hesitate as adoption remains uneven
Not all large banks have joined the Bitcoin shift, as Bank of America, holding more than $2.67 trillion in assets, has not announced Bitcoin service plans, according to River. Capital One, with $694 billion in assets, has also disclosed no crypto initiatives, while Truist Bank, managing $536 billion in assets, remains inactive in the Bitcoin space.
However, growing participation from peer institutions is increasing competitive pressure across the sector. Clients now expect access to digital assets through trusted financial institutions, and banks risk losing relevance if they ignore this demand.
Overall, Bitcoin is steadily moving closer to the core of US banking, even as adoption levels continue to vary. The broader trend points to a clear recalibration underway across Wall Street.
Also Read: Ripple CEO Tells Senate Why This Crypto Bill Could Reshape U.S. Finance
