- Wall Street CEOs are increasingly optimistic about crypto, driven by Trump’s pro-crypto policies and regulatory promises.
- Morgan Stanley, already an early adopter, plans to expand its Bitcoin offerings while ensuring regulatory compliance.
- Bank of America is open to embracing crypto as a payment system if clearer regulations emerge under Trump’s administration.
A recent CNBC report highlights that several prominent Wall Street CEOs and experts are gearing up to “go bigger in crypto,” seemingly inspired by Donald Trump’s pro-crypto policies. Speaking from Davos, Switzerland, these executives expressed growing enthusiasm for diving deeper into the digital asset world, contingent on regulatory clarity.
Since his re-election in November 2024, Trump has made waves in the crypto community with bold promises. Dubbed the “crypto president,” he’s already signed executive orders to establish a specialized digital asset regulation task force. Even his pick for heading the SEC is a vocal crypto advocate—potentially paving the way for long-awaited crypto ETF approvals.
Wall Street’s Growing Crypto Appetite
Wall Street heavyweights seem to be catching the crypto fever. Morgan Stanley CEO Ted Pick, speaking to CNBC, hinted at a growing openness to crypto, provided regulations align with institutional needs. “For us, it’s about whether a highly regulated financial institution like ours can operate safely in this space,” Pick said. Historically, most banks have been wary of crypto, but with assets like Bitcoin gaining global traction and institutional interest, the industry’s mood appears to be shifting. “We’ll work closely with Treasury and regulators to figure out how we can safely offer these services,” he added.
Morgan Stanley has already dipped its toes into the crypto pool. Back in 2021, it became the first major US bank to give wealthy clients access to Bitcoin funds. By 2023, it allowed financial advisors to pitch Bitcoin ETFs directly to clients, cementing itself as an early mover among Wall Street’s big players. The bank holds significant Bitcoin reserves and remains one of the few institutions actively offering BTC custody services. As Pick put it, “The longer it trades, the more perception becomes reality.”
Bank of America’s Turn to Dive Deeper?
Another Wall Street powerhouse, Bank of America, is signaling interest in going all-in on crypto. CEO Brian Moynihan voiced optimism about embracing crypto, especially as a transactional tool, but emphasized that regulatory clarity is key. “If the rules evolve and make it something legitimate for business use, you’ll see the banking system lean in heavily on this,” Moynihan said during a panel in Davos. He believes clear, actionable guidelines under Trump’s administration could unlock crypto’s full potential for banks.
