Over Half of US Banks Set To Offer Bitcoin, New Research Shows — Here’s Who’s Still Out
New research from River reveals that nearly 60% of the largest U.S. banks by assets are either already offering Bitcoin-related services or plan to do so. The analysis, which examined the top 25 banks, found a growing number are launching custody, trading, or other Bitcoin exposure products for clients.
Major banks like JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley are offering services, primarily to high-net-worth clients. Others like U.S. Bank and BNY Mellon provide custody, while PNC Group offers both custody and trading. State Street and HSBC have announced custody plans, and Charles Schwab and UBS have announced trading initiatives.
However, nine major banks remain on the sidelines, including Bank of America, Truist, TD Bank, Capital One, and others. Despite this, even non-participating banks are softening their stance; Bank of America recently recommended clients allocate 1-4% of their portfolios to cryptocurrencies and announced coverage of several spot Bitcoin ETFs.
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