Over half of the 25 largest US banks are no longer just keeping tabs on crypto—they’re actively planning, launching, and integrating digital asset products. A fresh August 8 chart from River shows a dramatic shift from “not yet” to “exploring,” “announced,” or exclusive rollouts for high-net-worth clients, signaling that crypto is marching straight into the heart of mainstream finance.
The momentum has been building since 2024. Morgan Stanley began exploring ways for its 15,000 brokers to recommend spot Bitcoin ETFs, backed by strict suitability rules, expanding beyond unsolicited orders. Charles Schwab announced plans to roll out Bitcoin and Ethereum trading, allowing customers to see all their holdings on one seamless platform.
PNC Bank made waves by partnering with Coinbase, enabling wealth and asset management clients to trade crypto directly from their PNC accounts—no extra platform needed. Meanwhile, State Street revealed plans for a stablecoin and tokenized deposits, aiming to accelerate settlements and pave the way for tokenizing bonds and money market shares.
BNY Mellon has been deeply involved in crypto infrastructure—serving as custodian for ETF products and even safeguarding reserves for Ripple’s RLUSD stablecoin. Citi is testing Solana-based tokenization pilots and considering crypto custody services for the future.
The boldest moves, however, are coming from JPMorgan. In June 2025, it launched a tokenized deposit token pilot on Base for instant dollar transfers, followed by plans to test stablecoin services. Recently, it also gave customers the ability to buy crypto directly via Coinbase from within their JPMorgan dashboards—despite CEO Jamie Dimon’s continued skepticism toward crypto.
While most offerings remain limited to wealthy clients or specialized programs, the direction is crystal clear. With custody solutions, tokenization pilots, ETF access, and seamless platform integrations on the rise, America’s top banks are laying the tracks for a full-speed crypto future.
The verdict? Wall Street isn’t just watching crypto anymore—it’s building it. 💎📈🔥
