A recent CNBC report reveals that many Wall Street CEOs and experts are ready to follow Donald Trump’s footsteps and “go bigger in crypto.” Wall Street’s top CEOs told CNBC from Davos, Switzerland, this week that they’re ready to go bigger in crypto if the Trump administration rolls out favorable policies.

Since his nomination in November 2024, Donald Trump has made multiple promises to the crypto community. As the self-proclaimed “crypto president,” he has already signed executive orders to launch a designated digital asset regulation team. Additionally, his pick to run the SEC is a crypto supporter, opening the door for future crypto ETF approvals.

Wall Street Giants Going All-in on Cryptocurrency?

Wall Street appears to be picking up on the crypto industry’s momentum. “For us, the equation is really around whether we, as a highly regulated financial institution, can act as transactors,” Morgan Stanley CEO Ted Pick says to CBNBC. Most banks have been reluctant to support crypto over the last several years. However, with assets like Bitcoin exploding and receiving more institutional/national interest, the tide is turning. “We’ll be working with Treasury and the other regulators to figure out how we can offer that in a safe way,” Pick added.

In 2021, Morgan Stanley became the first big US bank to offer its wealthy clients access to Bitcoin funds. Last August, it was the first major Wall Street player to let its financial advisors start pitching clients on some of the bitcoin exchange-traded funds that launched early last year. The bank holds millions in Bitcoin already and is one of the few major institutions already offering BTC holding to clients. “The longer it trades, perception becomes reality,” CEO Pick said.

Furthermore, Bank of America is another Wall Street giant looking to go all-in on cryptocurrency. CEO Brian Moynihan echoed a willingness to embrace crypto, specifically as a payment option, if the regulatory environment shifts under Trump’s administration. Speaking in Davos, Moynihan emphasized that clear guidelines could unlock broader adoption. “If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it,” Moynihan said this week.

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  • crypto
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  • Morgan Stanley
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