Bitcoin’s significant price increase has intrigued Wall Street banks, pushing them to explore the crypto sector. These banks are drawn to the lucrative fees from crypto transactions, with over 200 million USD earned this year from 13 billion USD in convertible crypto bonds.

Although banks like Barclays and Citigroup are enhancing their crypto services, caution prevails. The competition involving JPMorgan and Goldman Sachs is sharp; yet, concerns about risk and reputation persist due to crypto’s volatile nature, impacting long-term strategies.