TradFi firms expand crypto access despite downturn

• Two financial institutions managing more than $1 trillion each approved crypto products this summer.
• Banks are increasingly offering custody, tokenisation and regulated trading for digital assets.
• Industry executives say client demand and clearer rules are driving the shift.

Bitcoin (CRYPTO:BTC) and other digital assets are gaining support from major financial institutions despite weaker market conditions.

Two financial firms managing more than $1 trillion each approved crypto products this summer, according to Bitwise CEO Hunter Horsley.

“This year everyone just put on the crypto jersey,” Horsley said during an interview with CoinDesk.

The firms were not identified, while Horsley said they were expanding access for clients despite current market conditions.

Sygnum Chief Investment Officer Fabian Dori said banks are moving from resisting digital assets towards custody, tokenisation and regulated trading.

Major financial groups have entered the sector through partnerships and services, including custody, trading and digital asset infrastructure.

Anchorage Digital CEO Nathan McCauley said traditional finance and decentralised finance are moving towards a more unified financial system.