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Big Banks & Crypto

Updated: Nov 16


Big banks continue to report on huge influx of demand from clients for a way for them to get involved in ALL digital assets.



Citi Group






Citigroup has become the latest banking giant to look into crypto, with its global head of foreign exchange reporting a surge in interest among its clients.

City Group is set to start trading bitcoin features on the Chicago Mercantile exchange a.k.a. the CME once they get regulatory approval apparently they’re seeing a huge surge for crypto when bitcoin is at the 50k level.


Citi Group bank has announced they will provide crypto currency to their clients using the

Nydig.com- white label product platform. (Details on Nydig below).

Morgan Stanley




Morgan Stanley was the first big U.S. bank to offer its wealthy clients access to bitcoin funds. These funds include Galaxy Digital, a crypto firm founded by Mike Novogratz, while the third is a joint effort from asset manager FS Investments and bitcoin company NYDIG. White label product.

American multinational investment bank Morgan Stanley has reported the acquisition of around 30,000 shares in the investment vehicle Grayscale Bitcoin Trust. ... Grayscale Bitcoin Trust, a leading institution in digital currency investment, holds more than $30bn worth of Bitcoin


Key Facts


Size of investment

2.5% net worth cap

Minimum investment


Direct Bitcoin exposure

Not a basket of stocks.

Restrictions

Minimum holdings with the bank

Morgan Stanley.

Not for retail

Goldman



Goldman Sachs Group Inc. is moving beyond the world of Bitcoin and expanding into Ether. The bank plans to offer options and futures trading in Ether, the coin that fuels the Ethereum network, in the coming months, according to Mathew McDermott, head of digital assets at Goldman.

  • Thursday via the investment bank’s Marquee digital platform, according to an email obtained by CNBC.

  • The first report available to Goldman clients was an overview of decentralized finance (DeFi) protocols on the Ethereum network.

  • The investment bank has said its Marquee platform has 50,000 active monthly users.


Goldman Sachs revealed that 50% of the ultra wealthy one increasing exposure to cryptocurrency‘s in Sachs has responded by offering clients the option to trade bitcoin an ether options in futures

PIMCO


Fixed-income titan Pimco is starting to embrace cryptocurrencies, CIO says


  • Fixed-income giant Pimco has dabbled in cryptocurrencies and plans to gradually invest more in digital assets.

  • Chief investment officer Daniel Ivascyn told CNBC some of Pimco's hedge fund portfolios are already trading crypto-linked securities.

Pimco has yet to release new on a platform they wish to use‼️


Wells Fargo



Business Insider reports that wealthy Wells Fargo clients can now get Bitcoin & crypto exposure through the bank. Only to High-net-worth Wells Fargo clients can now get Bitcoin & crypto exposure, a company spokesperson informed Business Insider, making Wells Fargo the latest in a long line of traditionally conservative financial institutions to venture into Bitcoin.

Followed JP Morgan

To high net worth clients

Opened their entire trading desk


Securely store assets at NYDIG’s regulated, audited, and insured custodian, built from the ground up for institutions. Wells Fargo comes behind a couple of big banks that have provided crypto investment options for their clients


JPMorgan




Led by bitcoin skeptic Jamie Dimon, quietly JPM unveils access to a half-dozen crypto funds. financial advisors are now allowed to begin placing private bank clients into a new bitcoin fund created with crypto firm NYDIG, according to people with knowledge of the move. Late last month, JPMorgan also rolled out access to four funds from Grayscale Investments and one from Osprey Funds, according to the people.

J.P. Morgan’s crypto plan is for their wealth management clients and individual clients to all have access to basic crypto currency needs. They require their crypto clients to have at least $2 million of assets held by the firm and clients must pre qualify. In some cases, to have complete access to all of JPMs crypto products, clients must have at least 5 million

NYDIG



NYDIG offers the confidence of a large, liquid, audited balance sheet and investment from the industry’s premier investors.

NYDIG has subsidiaries providing custody and execution, each with separate NYDFS licenses.

Mining pool

The lowest-cost North American pool from a provider that custodies its assets with NYDIG's trusted, regulated custodian.

Equipment Financing

Borrow to finance mining equipment and power infrastructure, or deploy your balance sheet to finance activity in the bitcoin mining industry.


Asset-Backed Lending

Borrow or lend dollars against bitcoin.


Stringent Governance

NYDIG has utilized a top-tier auditor for financials and custody system procedures since inception and is both SOC 1 Type 2 and SOC 2 Type 2 compliant.


Clear Insights

Expert research and advisory services, including market insights, trading color, and in-depth research from industry leaders.

Founder and Executive Chairman

Ross Stevens founded NYDIG in 2017, and serves as its Executive Chairman. Ross founded Stone Ridge in 2012, and serves as Chief Executive Officer. Ross started his career at Goldman Sachs after receiving his PhD in Finance and Statistics from the University of Chicago (Booth) and his BSE in Finance from the University of Pennsylvania (Wharton). Ross founded and serves as the Advisory Board Chairman of the Stevens Center for Innovation in Finance at the University of Pennsylvania (Wharton).




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