Despite the constant clamor about the lack of regulatory clarity in the US, the largest banks are already providing services related to cryptocurrency.

According to the website, “Bloomberg”In particular, JPMorgan Chase & Co, Goldman Sachs Group Inc, and Morgan Stanley offer cryptocurrency futures trading to their clients.

This comes at a time when banks in the world’s second largest economy, China, are clamping down on all offers related to cryptocurrency.

The largest US banks offering Bitcoin futures trading services:

The cryptocurrency adoption rate in the past year has caused a shift in customer demand across the board.

At the request of customers, a number of banks in the United States and around the world have begun to explore ways to offer crypto services, even though many of the potential Bitcoin offerings are tainted by regulation.

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That argument is what Goldman Sachs CEO David Solomon made in testimony before Congress earlier this month.

As he explained:

We are illustrating Bitcoin futures.

We advise clients, especially institutions, and high net worth individuals who have an interest in gaining exposure to Bitcoin, although they often go elsewhere to gain that exposure.

Currently, Bank of America only offers future settlement of cryptocurrencies along with the three major banks.

However, Morgan Stanley expanded its reach by providing crypto products to its wealthy clients according to the charts provided by Bloomberg as shown below.

Will other banks follow the lead of the big banks?

Early 2021 opens up access to a growing number of institutional demands for bitcoin and other digital currencies.

Just as the Goldman president noted, customers are prone to search for the services they want in the places they offer, a situation most banks are unwilling to experience.

Some of the banks that embrace cryptocurrency contracts today, including Goldman Sachs, once spoke negatively about the cryptocurrency ecosystem.

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But the time factor has changed the perceptions of this banking giant, and while UBS is considering offering crypto services to its wealthy clients, other banks including Credit Suisse, Deutsche Bank, BNP Paribas and HSBC are neither offering nor considering In providing any service related to cryptocurrency.

As the cryptocurrency ecosystem matures, and more regulations are introduced to control the crypto market ecosystem, we are likely to see a shift in the attitudes of many banks that remain out of the crypto game.

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