Wall Street leans into crypto: E*Trade to add BTC, ETH and SOL, JPMorgan cools on stablecoin risks, and CFTC tests tokenized collateral. Crypto’s integration with traditional finance is accelerating. Major banks are rolling out crypto trading services, expanding stablecoin initiatives and preparing for regulatory shifts that could let tokenized assets serve as collateral in derivatives markets. This week’s Crypto Biz dives into Morgan Stanley’s plan to launch crypto trading via E*Trade, JPMorgan CEO Jamie Dimon’s cautious acknowledgment of stablecoins and the Commodity Futures Trading Commission’s (CFTC) exploration of tokenized collateral. Plus, Strategy’s Michael Saylor dismisses talk of a fading bull market, predicting institutional demand will push Bitcoin higher in Q4. Morgan Stanley’s discount brokerage E*Trade will begin offering cryptocurrency trading in 2026 through a partnership with infrastructure provider Zerohash, marking another sign that major banks are moving into digital assets. Read more
Bitcoin and several major altcoins are trying to start a recovery, but they are likely to be met with significant selling pressure at higher levels. Key points: Bitcoin is nearing the support of the large range, indicating that a relief rally is possible in the near term. Several major altcoins are trying to start a relief rally, but they are likely to meet significant resistance from the bears at higher levels. Read more
Although crypto treasury companies have enjoyed short-term price gains, most have underperformed the underlying assets they hold. Crypto asset prices retraced this week, but the spot market is faring better than most digital asset treasury companies, which have lost over 90% of their value in some cases due to market saturation and investor concerns over the sustainability of the digital asset treasury business model. Strategy, the largest Bitcoin (BTC) treasury company, is down about 45% from its all-time high of $543 per share during intraday trading in November. Comparatively, BTC is up about 10% since hitting a high of over $99,000 over the same month. Additionally, BTC has printed successive new highs since December, hitting an all-time high of over $123,000 in August, whereas Strategy has failed to reach a new all-time high in 2024 or even recapture its previous all-time high during the same time period. Read more