A new tally from asset manager Bitwise shows that 24 major financial institutions are now actively offering crypto services within regulated markets. The list includes trading, custody, funds, payments, tokenization, and exchange-traded products — a sign that traditional finance isn't just dipping toes in, it's wading in deeper.
Trading, Custody, and More
The services span the full crypto stack. Some institutions run their own trading desks for spot and derivatives. Others provide custody for institutional clients who want a regulated place to store digital assets. A handful have launched funds — both active and passive — that track various crypto benchmarks. Tokenization of real-world assets is also on the rise, with several banks issuing digital versions of bonds or money-market funds. And exchange-traded products, like Bitcoin and Ethereum ETFs, now have multiple large issuers behind them.
Who's in the Club
Bitwise didn't name every firm in its snapshot, but the group includes global banks, asset managers, and brokerages that have gradually added crypto over the past few years. The common thread: all operate under regulatory oversight in jurisdictions like the U.S., Europe, and Singapore. That's a shift from the early days when most crypto activity happened outside traditional finance.
Regulated Frameworks
Operating within regulated markets matters. It means these institutions comply with know-your-customer rules, capital requirements, and custody standards. For many pension funds and endowments, that's the only way they can even consider crypto exposure. The Bitwise data suggests that the infrastructure is now solid enough to support serious institutional money.
The Growth Trajectory
Two years ago, the count was roughly half that. The rise to 24 isn't a sprint — it's a steady buildup. Each new entrant brings more liquidity, more product variety, and more pressure on laggards to join. Bitwise plans to update the data quarterly, offering a regular check on how fast traditional finance is moving into crypto.
