Bank of America began offering crypto allocations of up to 4% for wealth management clients this week as the global market cap hit $3.22 trillion. Morgan Stanley also filed for a Solana Trust with the SEC, while Japan’s finance minister endorsed lower crypto taxes and exchange reforms.
Wealth Management Shifts
Big banks are taking concrete steps toward crypto integration. Bank of America’s new program lets high-net-worth clients allocate a small slice of portfolios to digital assets. Morgan Stanley’s SEC filing for a Solana Trust signals institutional demand for focused exposure to the network. Goldman Sachs adjusted its stance too—upgrading Coinbase to ‘Buy’ while downgrading eToro.
Japan’s Policy Push
Japan’s finance minister publicly backed deeper crypto integration during a cabinet meeting. He specifically called for lower taxes on crypto transactions and reforms at exchanges to streamline operations. The move could position Tokyo as a friendlier hub for digital asset businesses after years of cautious oversight.
Security Lapses Surface
Kraken is probing dark web reports of customer data for sale following a potential security exploit. The exchange hasn’t confirmed a breach but urged users to monitor accounts. Ledger separately confirmed a data breach through its e-commerce partner Global-E, exposing customer contact details. Both firms are still assessing the damage.
Ethereum’s Core Claim
Vitalik Buterin stated Ethereum has effectively solved the Blockchain Trilemma via its Layer-2 roadmap. He emphasized scaling solutions now balance security, decentralization, and throughput without compromises. The claim focuses on network advancements rather than speculative price action. The SEC hasn’t set a timeline for Morgan Stanley’s Solana Trust application, and both Kraken and Ledger remain in early investigative stages with no resolution dates.
