Tokenization · CoinDesk
Sygnum Chief Investment Officer Fabian Dori agreed that the relationship between banks and crypto has changed
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“The old ‘long bitcoin, short the bankers’ trade is over: banks have moved from resisting digital assets to building and enabling or distributing them through custody, tokenization and regulated trading,” Dori said.
Key facts
- Early bank entrants included Swissquote, which added bitcoin trading in 2017, DBS in 2020 and BBVA in 2021
- A pair of financial institutions managing more than $1 trillion each approved crypto products this summer, a shift Bitwise CEO Hunter Horsley says shows large firms are expanding crypto access even
- Anchorage Digital CEO Nathan McCauley, meanwhile, said its client roster has increasingly reflected the convergence of traditional and decentralized finance over the past two years
- Sygnum Chief Investment Officer Fabian Dori agreed that the relationship between banks and crypto has changed
Summary
Two firms managing over $1 trillion approved crypto products, signaling that large institutions are expanding access despite bear market conditions. The "long bitcoin, short the bankers" era is over, as banks shift from resisting digital assets to enabling their distribution through custody and trading. Financial firms are partnering with specialists to build infrastructure, blurring lines between traditional and decentralized finance into a unified sector. A pair of financial institutions managing more than $1 trillion each approved crypto products this summer, a shift Bitwise CEO Hunter Horsley says shows large firms are expanding crypto access even during a bear market. "This year everyone put on the crypto jersey," Horsley said during an interview with CoinDesk.