Major Wall Street banks are ramping up efforts to secure crypto-related deals, anticipating a wave of IPOs and capital raises under President Donald Trump’s pro-crypto policies, according to Bloomberg.
Morgan Stanley is actively seeking clients for initial public offerings (IPOs), while the investment banking division of Bank of America plans to assist digital asset firms with their transactions. Meanwhile, according to sources familiar with the matter, the Royal Bank of Canada, which completed its first cryptocurrency deal late last year, is looking to expand its involvement in the sector.
The report also noted that Trump’s administration has launched a crypto task force led by SEC Commissioner Hester Peirce and is exploring the feasibility of a national Bitcoin reserve, according to White House crypto adviser David Sacks.
Several crypto firms, including Gemini, Bullish, Circle Internet Financial, and Kraken, are considering IPOs, which could generate significant bank fees. The report highlighted that regulatory uncertainty had previously discouraged major financial institutions from deeper involvement in the sector.
While Morgan Stanley missed out on Coinbase’s 2021 listing, it has since helped the exchange sell convertible bonds and is positioning for future deals. RBC recently arranged a bond sale for Core Scientific, a crypto mining firm, and is seeing increased interest from Bitcoin-related issuers.
At Bank of America, discussions about crypto deals are intensifying, with CEO Brian Moynihan signalling that traditional banks are prepared to capitalize on new opportunities if clear regulations emerge, the report added.
Beyond Wall Street, Trump’s re-election has significantly impacted global financial hubs, particularly in Singapore’s wealth management sector, where there is a notable increase in cryptocurrency investments. High-net-worth individuals are allocating more funds to digital assets, leading to a two- to threefold increase in new client onboarding at Sygnum shortly after the election. This trend highlights the growing importance of cryptocurrencies in global investment strategies.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with Markets PRO, DeFi Planet’s suite of analytics tools.”
