Wall Street banks expand into tokenized cash and crypto ETFs

Major Wall Street banks are moving from containment to active engagement with digital assets, extending tokenized cash onto new blockchains and filing to offer crypto-linked investment products. JPMorgan announced plans to issue its US dollar-denominated JPM Coin natively on the Canton Network, with Digital Asset and Kinexys by JPMorgan extending the token onto Canton’s privacy-focused layer‑1 blockchain.

Cointelegraph quoted Digital Asset CEO Yuval Rooz saying the collaboration “brings to life the vision of regulated digital cash that can move at the speed of markets.” JPM Coin is described in the announcement as the first bank‑issued, US dollar‑denominated deposit token for institutional clients and a digital claim on JPMorgan’s dollar deposits.

Morgan Stanley has filed with the US Securities and Exchange Commission to launch a Morgan Stanley Bitcoin Trust and a Morgan Stanley Solana Trust; if approved, the bank says the funds could be made available to more than 19 million wealth management clients. Barclays made an undisclosed investment in Ubyx, a US stablecoin clearing platform that connects regulated issuers with financial institutions; Ubyx previously raised $10 million in seed funding backed by Galaxy and Coinbase.

Bank of America’s chief investment office approved coverage of four US spot Bitcoin ETFs, including products from Bitwise, Fidelity, BlackRock and Grayscale, which the report says together manage more than $100 billion in Bitcoin assets.

Key Topics

Crypto, Jpm Coin, Canton Network, Digital Asset, Morgan Stanley, Bitcoin Etf