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BTC Strategy CEO points out that competition among Wall Street giants in Bitcoin and digital asset adoption is becoming increasingly fierce
The battle for leading positions in Bitcoin and digital asset adoption among major Wall Street financial institutions is intensifying. Goldman Sachs, JPMorgan Chase, Morgan Stanley and Citigroup scored almost the same in Strategy's "Bitcoin Banking Adoption Index", only a few percentage points apart from each other. However, Fidelity Investment still maintains its leading position with significant advantages.
Fidelity leads the adoption of Bitcoin banking
The "Bitcoin Banking Adoption Index" evaluates the world's 25 largest financial institutions from three dimensions: Bitcoin spot trading, cryptocurrency custody and the availability of digital asset products. Based on public information as of July 10, Strategy estimates that the average adoption rate for these institutions is 32%.
Fidelity ranked first with a score of 71%. Since launching Fidelity Digital Assets in 2018, the company has gradually expanded its custody, trading and institutional encryption services, maintaining a huge lead over traditional banks. Bank of New York Mellon came in second with a score of 46%, followed by Goldman Sachs with a score of 45%. Currently, only a few large banks have established cryptocurrency custody infrastructure that rivals Fidelity's extensive digital asset services.
The index is designed to measure long-term institutional adoption trends rather than short-term fluctuations in Bitcoin prices.
Goldman Sachs, JPMorgan Chase, Morgan Stanley and Citigroup score similar
JPMorgan Chase, Morgan Stanley and Citigroup all scored 43%, just 2 percentage points lower than Goldman Sachs. This slight gap suggests that the competition between these Wall Street giants has become extremely fierce as they expand their presence in crypto-related transactions, investment products and blockchain infrastructure.
Recent quarterly earnings reports also showed that the trading desks of JPMorgan Chase and Goldman Sachs have generated revenue from digital asset-related activities. However, direct Bitcoin services are only part of the competition. Many financial institutions are also investing heavily in asset tokenization, and it is reported that more than 15 large banks are advancing projects to relocate traditional financial instruments to blockchain networks.
These moves could allow banks to increase their exposure to digital assets without relying entirely on Bitcoin, and could ultimately reshape the ranking landscape.
Tokenizing or reshaping index rankings
The gap between Fidelity and slower-moving competitors remains significant. Although Fidelity began building its digital asset division years ago, companies such as Vanguard Group have only recently begun to develop broader crypto strategies. Regional banks are even more backward, and most are still at the stage of exploring how digital assets can be integrated into existing businesses.
The rankings may change as more institutions launch new products. Goldman Sachs, JPMorgan Chase, Morgan Stanley and Citigroup are reportedly preparing additional crypto initiatives, including new investment vehicles, expanded custody services and tokenization platforms. Strategy CEO Phong Le said the launch of these products will bring greater transparency to the industry and more clearly demonstrate the depth of integration of traditional finance and digital assets.
Strategy has a direct interest in banking adoption
Strategy remains the world's largest corporate holder of Bitcoin and has a direct interest in accelerating institutional adoption. Executive Chairman Michael Saylor has repeatedly encouraged companies, financial institutions and governments to include Bitcoin on their balance sheets and financial infrastructure. Greater participation by large banks will make bitcoin-related products more accessible to institutional investors, while strengthening the connection between traditional finance and the broader digital asset market.
