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Once skeptical about Bitcoin, America’s biggest banks are now rushing to get a piece of the action. From JPMorgan to Goldman Sachs, these financial giants are moving into Bitcoin custody, trading, and rewards programs. The game has clearly changed.

Here’s what you must know. 

Big Banks Move Into Bitcoin

A recent chart by River reveals how top firms are moving beyond the early stages of crypto involvement. Many have launched Bitcoin services or offer limited access to wealthy clients, reflecting digital assets’ growing integration into mainstream finance.

Banks such as JPMorgan, PNC, Charles Schwab, and State Street have already launched or are preparing Bitcoin-related products. Citigroup, Wells Fargo, and Goldman Sachs provide limited Bitcoin access to select high-net-worth clients.

Even American Express has introduced a Bitcoin rewards card. Others, including Fifth Third and USAA, are exploring or integrating crypto services.

From Observers to Active Players

Since early 2024, major US banks have shifted from watching crypto to actively engaging in it. 

  • Morgan Stanley considered letting thousands of brokers recommend Bitcoin ETFs to clients
  • Charles Schwab plans to add Bitcoin and Ethereum trading to meet growing customer demand for a unified investment platform. 
  • PNC also partnered with Coinbase to allow clients to trade crypto directly through their bank accounts.
  • JPMorgan announced it is teaming up with Coinbase to let Chase credit card customers fund their wallets and buy crypto on the exchange starting fall 2025.

Work on custody and tokenization is also picking up. State Street, BNY Mellon, Citi, and JPMorgan are testing stablecoins and blockchain-based settlement systems.

Michael Saylor’s Vision for Bitcoin’s Future

Michael Saylor, Strategy’s CEO and a major Bitcoin advocate, had outlined four key points for Bitcoin’s future in a recent interview – banks will start lending against BTC, the US government will hold Bitcoin reserves, big tech will embrace BTC, and it will be easily accessible on devices like the iPhone. 

Saylor believes these developments will put the United States at the center of the global crypto industry.

As major banks and institutions embrace Bitcoin, America is set to dominate the future of crypto innovation.