Mapping Out US Banks Digital Asset Business Lines

With President Trump declaring his vision for the U.S. to become the global hub for digital assets and a Bitcoin superpower, the nation’s biggest banks are moving fast to reshape their strategies.

Following a wave of bold commitments from top U.S. bank CEOs at Davos earlier this year, the question now is: How are the largest banks positioning themselves in the digital asset space? What is the digital asset business receiving the most attention on?

In this Weekly Research, I will:

• Map out the digital asset initiatives of the biggest U.S. banks

• Benchmark their efforts against existing revenue and profitability data

• Analyze the immediately addressable market

  
  

Using the Financial Stability Board’s 2024 Globally Systemic Important Bank list, we’ll focus on the eight largest U.S. banks leading the charge:

1. JPMorgan

2. Citigroup

3. Bank of America

4. Goldman Sachs

5. Bank of New York Mellon

6. Morgan Stanley

7. State Street

8. Wells Fargo

Let’s dive in.

Overview

First let’s start with an overview of US bank digital asset business lines. See below.

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