The Great Unmasking: 60% of Top US Banks Have Quietly Pivoted to Bitcoin

The era of "unsolicited" crypto access is officially dead. While public executive commentary remained skeptical through late 2025, the back-office reality has shifted aggressively. According to new data from River Financial, nearly 60% of the top 25 US banks are now actively building, testing, or deploying Bitcoin services. This isn’t a pilot program. It’s an infrastructure race.

With Bitcoin hovering near $89,700, the banking sector has moved from containment to customer retention. The message is clear: if banks don't offer the rails, the capital leaves.

The Advisor Floodgates Open

Bank of America has made the most decisive move. As of January 5, the bank began allowing its 15,000+ advisors across Merrill and Private Bank to proactively recommend spot Bitcoin ETFs. This reverses years of policy where advisors were gagged unless a client specifically asked.

"For investors with a strong interest in thematic innovation… a modest allocation of 1% to 4% in digital assets could be appropriate.", Chris Hyzy, Chief Investment Officer, Bank of America Private Bank

The guidance suggests a 1-4% portfolio allocation, slotting Bitcoin directly into model portfolios alongside gold and treasuries. This effectively greenlights billions in potential capital flows from arguably the most conservative advisory network in the country.

Infrastructure Over Hype

The shift goes deeper than ETFs. US Bancorp has revived its institutional Bitcoin custody service, tapping NYDIG as sub-custodian. Originally paused due to regulatory fog, this service targets institutional investment managers who need qualified custodianship to meet fiduciary mandates. They aren't just trading paper; they are storing keys.

Meanwhile, Charles Schwab and Morgan Stanley are reportedly finalizing spot Bitcoin and Ethereum trading for self-directed platforms, targeting a H1 2026 rollout. The delay wasn’t technical. It was regulatory waiting.

The GENIUS Tailwind

This institutional confidence stems directly from the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins), passed in July 2025. By establishing a federal framework for stablecoin issuers and clarifying custody liabilities, the Act removed the "reputational risk" that compliance departments previously used to veto crypto projects. The OCC’s subsequent issuance of conditional national trust charters has created a regulated sandbox that banks are finally comfortable playing in.

The infrastructure is no longer theoretical. It is built, funded, and now, open for business.