60% of top US banks now offer or plan Bitcoin services, River says

Sixty percent of the 25 largest US banks now offer or are developing bitcoin services, according to data released Monday by River, marking a sharp reversal from years of industry skepticism toward digital assets.

The shift marks a notable reversal from years of industry skepticism and regulatory friction, signaling that digital assets are increasingly viewed as a strategic priority rather than a fringe experiment.

Bitcoin financial services firm River disclosed on Jan. 27 that US banks crypto adoption now extends to 60% of the top 25 banking institutions operating in the country.

The finding highlights a structural change in how traditional finance is positioning itself amid rising institutional demand and evolving regulatory clarity.

US banks crypto adoption reaches majority of top institutions

In a public post on X, River summarized its findings succinctly.

“60% of the top US banks are into Bitcoin,” — River, in a post on X.

According to the firm’s breakdown, bitcoin services offered or planned by major banks include spot trading, institutional custody, crypto-backed lending, and wealth management exposure for high-net-worth clients.

While the depth of engagement varies by institution, the trend underscores how US banks crypto adoption is no longer limited to niche players or experimental pilot programs.

This development comes after years in which banks were accused by crypto firms of actively avoiding digital assets, particularly during the period often referred to as “Operation Chokepoint 2.0,” when multiple crypto companies lost access to banking services.

The latest data suggests that sentiment inside boardrooms has shifted materially.

Davos signals shift in bank leadership attitudes

The acceleration in US banks crypto adoption was echoed by Coinbase CEO Brian Armstrong following the World Economic Forum in Davos, Switzerland, held from Jan. 19 to Jan. 23.

Armstrong said conversations with banking executives revealed a sharp change in tone compared with prior years.

“Most of them are actually very pro crypto and are leaning into it as an opportunity,” — Brian Armstrong, CEO, Coinbase.

Armstrong added that while not all banks are fully committed yet, several view crypto as strategically unavoidable.

“One CEO of a top 10 global bank told me crypto is their number one priority, and they view it as existential,” — Brian Armstrong, CEO, Coinbase.

Such remarks suggest US banks crypto adoption is increasingly being framed as a competitive necessity rather than a speculative add-on.

For institutions facing pressure from fintech firms, tokenized assets, and blockchain-based settlement systems, crypto services are becoming part of broader modernization strategies.

Big Four participation strengthens US banks crypto adoption narrative

Among the most notable signals of US banks crypto adoption is the involvement of three of the four largest US banks by assets.

JPMorgan Chase has publicly acknowledged it is considering expanding into crypto trading services. Wells Fargo already offers bitcoin-backed loans to institutional clients. Citigroup, meanwhile, is exploring crypto custody services for large investors.

Together, these three banks manage more than $7.3 trillion in assets, according to Forbes, giving their collective crypto posture outsized influence on the broader financial system.

Adding to the momentum, Bloomberg reported last week that UBS as the Swiss banking giant with a significant US footprint is exploring bitcoin and ether trading access for its wealthiest clients.

While UBS has not made a formal announcement, the report aligns with the broader trend of US banks crypto adoption spreading across global systemically important institutions.

Despite the progress, banks remain selective. Many have expressed strong reservations about yield-bearing stablecoins, arguing they could undermine deposit bases and introduce systemic risk if widely adopted.

Major banks still cautious despite US banks crypto adoption surge

Even as US banks crypto adoption expands, a significant minority of large institutions remain on the sidelines.

Bank of America, the second-largest US bank with more than $2.67 trillion in assets, has yet to announce plans to offer bitcoin-related services, according to River’s data.

Capital One, with $694 billion in assets, and Truist Bank, holding $536 billion, are also absent from the list of active participants.

Their caution reflects lingering concerns around compliance costs, custody risk, and regulatory uncertainty particularly for retail-facing crypto services.

However, industry analysts note that continued institutional inflows into spot bitcoin ETFs and rising client demand may eventually force holdouts to reconsider.

For now, the data suggests US banks crypto adoption is advancing in phases: early adopters offering limited services, major institutions scaling selectively, and cautious players watching regulatory developments before committing.

A structural shift, not a passing trend

Taken together, the River data and Davos commentary point to US banks crypto adoption becoming embedded in long-term strategy rather than driven by short-term market cycles.

While banks remain divided on issues like stablecoin yield and DeFi integration, few now appear willing to ignore bitcoin entirely.

As regulatory frameworks mature and institutional infrastructure improves, crypto’s role within the US banking system is likely to expand further which is less as a disruptive threat, and more as a parallel asset class integrated into traditional finance.