Wall Street Banks Rush to Secure Crypto IPOs as Trump Boosts U.S. Push
As Trump vows to make the U.S. a crypto hub, Wall Street banks ramp up efforts to capture lucrative crypto IPO opportunities.
By Tylt Editorial Team
Major banks like Morgan Stanley and Bank of America are expanding crypto ties.
Exchanges such as Gemini, Bullish, and Kraken are exploring public listings.
Trump’s pro-crypto stance fuels a surge in IPO-related interest from banks.
Wall Street banks are ramping up their efforts to tap into the booming cryptocurrency sector, with a focus on initial public offering (IPO) opportunities. According to a report by Bloomberg, financial giants such as Morgan Stanley and Bank of America are moving aggressively to strengthen ties with crypto firms as they aim to secure lucrative deals in this emerging space. Royal Bank of Canada is also reportedly seeking to expand its crypto portfolio.
This wave of interest is largely driven by the recent push by Donald Trump to position the United States as a global crypto leader. At the Bitcoin 2024 Conference, Trump declared that, if reelected, he would make the U.S. the “crypto capital of the planet,” hinting at potential regulatory reforms that could benefit the industry.
The timing aligns with several major crypto firms considering IPOs. Exchanges like Gemini and Bullish are reportedly exploring going public, while others like Kraken and stablecoin issuer Circle have previously looked into similar plans. Bullish had even planned a $9 billion SPAC merger with Far Peak Acquisition, though the deal was later shelved due to delays.
Bank of America appears to be gearing up for more crypto deals, although specific details remain scarce. Meanwhile, Morgan Stanley is actively seeking crypto clients, signaling growing confidence among traditional financial institutions in the sector's profitability.
In addition to the developments in the U.S., Swedish fintech leader Klarna is making a significant foray into crypto as it prepares for its upcoming IPO, which could be valued at $15 billion. Klarna’s CEO, Sebastian Siemiatkowski, recently announced plans to integrate crypto services into the platform, further underscoring the growing mainstream appeal of digital assets.
As the crypto landscape evolves, Wall Street’s increasing involvement highlights the sector’s potential to reshape global finance. With regulatory changes on the horizon and high-profile IPOs in the pipeline, the intersection of traditional finance and cryptocurrency is set to capture the spotlight in the coming months.
