Major financial institutions are expanding crypto services across regulated finance, with Bitwise data showing 24 firms active in trading, custody, funds, payments, tokenization, or exchange-traded products. The activity points to wider use of regulated crypto access.
Wall Street’s crypto footprint is expanding across the financial system. Asset management firm Bitwise shared data on social media platform X on May 8 showing 24 major financial institutions active in crypto. The chart spans trading, custody, private funds, exchange-traded products, payments, and tokenization across banks, asset managers, exchanges, and payment networks.
Crypto exchange-traded products (ETPs) have become the broadest point of entry. Bank of America now provides Merrill wealth management clients access to spot bitcoin ETPs, reflecting client demand for regulated exposure. Vanguard also allows brokerage clients to trade crypto ETPs after previously blocking bitcoin ETFs. Blackrock, Fidelity, Franklin Templeton, Morgan Stanley, UBS, and Wells Fargo are also listed in the ETP category.
Bitwise wrote on X on May 8:
“Banks and crypto: better together.”
