The New York Stock Exchange is planning to launch a 24/7 trading platform for crypto trading, clearing, settlement, capital formation and data distribution. And Nasdaq is partnering with crypto exchange Kraken to offer tokenized stocks.
JPMorgan Chase and BofA will soon offer stablecoins (Fidelity already does) and Goldman Sachs has launched a stablecoin reserves fund. Meta will soon allow stablecoin payments for its 3B users.
Meanwhile, Schwab (39M clients/12T in assets) now lets retail clients trade BTC and ETH for just 75bps. Wells Fargo is also launching its own crypto exchange.
Morgan Stanley has launched a bitcoin ETF and wants its 16K FAs to put 2-4% of client assets in it. MS could flow 320B into BTC – raising bitcoin’s price $16K. MS is also letting some clients trade crypto at E*Trade for just 50bps. (Price war coming!)
Goldman Sachs has filed for a BTC income ETF - Wall Street racing to join crypto before BTC’s price exceeds the $126k high.
There’s more. Ondo Finance, JPMorgan, Mastercard and Ripple did the first near-real-time cross-border, cross-bank redemption of a tokenized U.S. Treasury fund – not in 3 business days but in 5 seconds.
Tokenized ETFs are coming, from JPMorgan’s Kinexys platform as well as BlackRock, FranklinTempleton, WisdomTree and State Street.
Securitize, the leader in tokenizing real-world assets with Apollo, BLK, BNY Mellon, Hamilton Lane, KKR, VanEck and others, has announced a deal with Computershare to issue tokenized equities.
VISA is now settling stablecoin transactions on 9 blockchains at a $7B annual rate, up 50% in 3 months. Western Union is partnering with Crossmint to support stablecoin transactions. PayPal is processing crypto trades on Solana. And Fannie Mae is accepting crypto as collateral for mortgages.
No wonder Institutional Investor’s Digital Assets Survey found that 75% of institutional investors plan to buy more crypto and 94% not currently invested plan to allocate this year.
The US stock market is worth $69T; the US bond market is $53T and crypto is ~$3T. A passive, diversified portfolio should be 55% stocks, 42% bonds and 3% crypto. If your crypto allocation is 0%, you’re shorting the market.
Read my three white papers. They explain why crypto prices have fallen over the past six months, the six myths that are preventing you from buying bitcoin, and why your crypto allocation should be 10% to 40% of your allocation. You’ll find them all at
DACFP.com/whitepapers