River: 15 of Top 25 US Banks Add Bitcoin – January 2026

River Financial says 15 of the top 25 U.S. banks now offer or have announced Bitcoin products, signaling a fast shift from "watching crypto" to shipping trading, custody, and BTC-backed credit. The list highlights moves by JPMorgan Chase, Wells Fargo, and Citigroup — which together control $7.3 trillion in assets — and points to Bank of America as a notable holdout.

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Context

US banks' Bitcoin product expansion follows the SEC's January 2025 repeal of Staff Accounting Bulletin (SAB) 121, which had required banks to record crypto custody assets as balance sheet liabilities, making custody capital-intensive for traditional institutions.

The River analysis frames this as a competitive shift inside the U.S. banking system rather than a retail trend, with product work spanning trading, custody, and lending.

Details

River's breakdown says 60% of the top 25 U.S. banks (15 banks) already offer or have announced Bitcoin products such as trading, custody, or loans collateralized by BTC.

Named examples in coverage include JPMorgan Chase considering crypto trading for institutional clients, Wells Fargo offering Bitcoin-backed loans launched in December 2025, and Citigroup targeting a crypto custody launch in 2026.

PNC Bank became the first major US bank to launch direct Bitcoin trading on Dec. 9, 2025, partnering with Coinbase's Crypto-as-a-Service platform to serve high-net-worth private banking clients.

Separately, Bloomberg reported on Jan. 23, 2026, that UBS — the world's largest wealth manager with $4.7 trillion in assets — plans to offer Bitcoin and Ethereum trading to some wealthy clients, citing unnamed sources.

Expert quote (bank executive, primary): "As client interest in digital assets continues to grow, our responsibility is to offer secure and well-designed options that fit within the broader context of their financial lives." – William S. Demchak, Chairman and CEO, PNC, Dec. 9, 2025.

Expert quote (industry executive, post-Davos): "Most of them are actually very pro crypto and are leaning into it as an opportunity." – Brian Armstrong, CEO, Coinbase, in post-Davos statement, Jan. 2026.

Impact

This shift expands Bitcoin distribution channels: if top banks normalize Bitcoin services, more high-net-worth and institutional customers can access BTC exposure through familiar banking channels rather than crypto-native venues.

It also reframes "crypto adoption" as a product competition story across trading, custody, and secured credit, not just ETF flows.

River's "holdout" angle matters: Bank of America — the second-largest US bank with $2.67 trillion in assets — has announced no Bitcoin products, despite broader market momentum.

Next Steps

Morgan Stanley and Charles Schwab plan to launch Bitcoin and Ethereum spot trading on their platforms in the first half of 2026, targeting retail and high-net-worth clients.

Separately, Citigroup is targeting a crypto custody launch "within the next few quarters" as of October 2025, with 2-3 years of development behind the initiative.

Execution will depend on custody frameworks, bank-grade risk controls, and financing products that determine whether "announced" initiatives become meaningful volume.

P.S. This article is for informational purposes only and does not constitute investment advice. Always conduct your own research and make independent decisions.