Wall Street just made one of its most coordinated moves in years.
Between November 24 and December 2, 2025, several major firms took action around Bitcoin:
JPMorgan introduced leveraged Bitcoin notes offering 1.5× upside with some downside protection.
Vanguard, after years of pushing back, finally allowed Bitcoin access for its 50 million clients on its $11 trillion platform.
Bank of America approved Bitcoin allocations of up to 4% for 15,000 financial advisers.
Goldman Sachs bought Innovator Capital for $2 billion on the same day.
Four huge institutions made major decisions within nine days, managing more than $20 trillion combined.
It’s hard to call this a coincidence.
At the same time, while everyday investors sold about $3.47 billion worth of Bitcoin in November — the biggest monthly ETF outflow so far — big institutions were preparing to take advantage of those sales.
BlackRock’s IBIT ETF alone saw $2.34 billion in retail withdrawals, yet Abu Dhabi’s sovereign fund increased its Bitcoin holdings during the same period.
It looks like Bitcoin moved from weaker holders to stronger, long-term ones.
Meanwhile, MSCI will vote on January 15, 2026, on whether to exclude companies with more than 50% digital-asset exposure from global indexes. If approved, Strategy Inc could face about $11.6 billion in forced selling.
JPMorgan published research discussing this possible removal, even though the bank increased its IBIT position to $343 million last quarter. They are also launching products positioned to catch any new inflows caused by index changes.
The situation isn’t secret — it’s part of how the system works.
Nasdaq also increased the IBIT options limit by 40×, up to one million contracts, giving institutions more tools to manage volatility and treat Bitcoin more like a traditional portfolio asset.
Bitcoin itself hasn’t changed:
the protocol works, the supply cap remains, and the network runs as usual.
But the financial influence around it has shifted toward large institutions.
Bitcoin wasn’t destroyed —
it was absorbed.
