Majority of top U.S. banks are jumping on the Bitcoin bandwagon, with 14 out of the 25 largest banks in the United States currently developing Bitcoin products for their clients. This move highlights the growing interest and involvement of major financial institutions in the cryptocurrency market ¹.
Some notable banks leading the charge include:
- *Morgan Stanley*: Preparing to allow its 15,000 brokers to recommend spot Bitcoin ETFs, with suitability guardrails and allocation limits in place.
- *Charles Schwab*: Plans to enable direct trading of Bitcoin and Ethereum on its platform, aiming to unify management of all holdings in one place.
- *JPMorgan Chase*: Actively developing multiple crypto initiatives, including a tokenized deposit token on its Base blockchain for instant dollar transfers.
- *Goldman Sachs*: Offers crypto products to its wealthy clients, including a crypto trading desk that trades cryptocurrency-based derivatives.
These developments signal a significant shift in the U.S. banking sector's approach to cryptocurrency, with regulatory clarity and innovation expected to drive growth and adoption ² ³ ⁴.$BTC
