BTC Goes Mainstream as 60% of Largest US Banks Now Offer Bitcoin Services ⋆ ZyCrypto

Over 60% of the top 25 American banks are now offering Bitcoin services to their clients, investment company River tweeted earlier today. The largest cryptocurrency by market capitalization is facing increasing demand over time, especially from large institutional/individual players who were previously skeptical of entering the volatile market.

River tweeted:

According to River’s data, more than half of banks have begun offering Bitcoin custodial services or trading features to their clients. The list includes major names like JPMorgan Chase, Citigroup, Goldman Sachs, Wells Fargo, BNY Mellon, and Morgan Stanley. 

No bank other than PNC Group currently offers both custody and trading services for digital assets, but Citigroup and Fifth Third Bank could offer the set soon.

Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, and BNY Mellon are currently focusing solely on HNW (High Net Worth) clients. Several legacy banks, including Huntington Bank and Barclays (US), aren’t exploring any options at the moment.

This trend marks rapid institutional adoption, as three out of the four big banks are now allowing exposure to Bitcoin, directly contradicting earlier public denials.

Banks Locked in with Exchanges Over CLARITY Act

While a majority of American banks are currently offering or in the process of offering Bitcoin services, financial institutions are locked in a major tussle with crypto exchanges over the CLARITY Act.

Trump’s flagship crypto regulatory bill was introduced and passed by the House of Representatives last year, but it has since been held up in the Senate. The Digital Asset Market Clarity Act of 2025 aka the CLARITY Act, a major U.S. legislative effort to create a comprehensive regulatory framework for digital assets.

The Digital asset exchange platforms led by Coinbase want to offer staking rewards or yields on stablecoins like USDC and USDT to investors on their respective platforms. The problem is that these passive yields are significantly higher than interest rates, and the American Bankers Association opposes regulatory approval of these yields because it would decimate the legacy banking system. 

The banks argue that, because of these higher yields, trillions of dollars could potentially flee these institutions and trigger bank runs, destroying the current economy. They are asking for yield limits and other control measures to rein in this onslaught and keep banks competitive. 

The two parties are yet to reach a middle ground, and the US Senate is set to vote on the latest proposal on January 29, following earlier delays due to extreme weather.