MicroStrategy CEO Phong Le says Wall Street’s largest banks are locked in a tight race for second place on the company’s Bitcoin Banking Adoption Index.
Goldman Sachs, JPMorgan, Morgan Stanley, and Citi each score within three points of one another. Fidelity, however, still holds a commanding lead.
Fidelity’s Lead Sets the Bitcoin Banking Adoption Index Bar
The Bitcoin Banking Adoption Index grades 25 major banks on Bitcoin (BTC) trading, custody, and product depth.
Strategy, formerly known as MicroStrategy, published the initial 32% score, drawing on public data through July 10.
Fidelity topped the list at 71%, built on Fidelity Digital Assets, the custody arm it launched back in 2018.
BNY follows at 46%, while Goldman Sachs Group Inc. trails narrowly at 45%. Historically, few banks matched Fidelity’s early crypto custody bet.
Bitcoin traded near $64,539 on Sunday, up about 1% over 24 hours. The index, therefore, measures structural adoption rather than short-term price swings.
Goldman, JPMorgan, and Citi Battle for Second
JPMorgan Chase, Morgan Stanley, and Citigroup each land at 43%, separated from Goldman by just two points. Record bank earnings this quarter show JPMorgan and Goldman trading desks already profiting from crypto-adjacent activity.
Several rivals are also chasing tokenization efforts underway across the sector, where more than 15 banks now compete to move assets on-chain.
That shift, in contrast, sidesteps Bitcoin entirely and could reshape future index gains.
Vanguard illustrates the gap further. The asset manager only recently began planning its own crypto strategy, years after Fidelity built out its custody business. Meanwhile, smaller regional lenders have barely started.
Major-bank Bitcoin adoption is accelerating, but still early: 32% overall as measured by the index.
Michael Saylor, MircroStrategy’s executive chairman, posted that assessment on X alongside the index’s July 13 debut.
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