Cryptowire, NEW YORK: Bitcoin traded above $70,000 during the latest session, reaching an intraday high of $70,240 before pulling back to about $68,400, as the largest cryptocurrency extended a rebound that also lifted crypto-linked equities. The move returned the token to a level that has remained closely watched after sharp swings in recent months, while drawing fresh attention to a parallel shift on Wall Street as banks, brokers and asset managers continue to expand products and infrastructure tied to digital assets.
That institutional buildout has moved beyond offering indirect exposure through listed funds. Charles Schwab has launched a dedicated Schwab Crypto page ahead of a new account that will allow customers to buy and sell Bitcoin and Ethereum, while Morgan Stanley has filed for additional cryptocurrency exchange-traded products and Franklin Templeton has unveiled a new crypto investment unit. Taken together, those steps show established financial firms are adding trading, fund and operational capabilities as digital assets become more embedded in mainstream markets.
Schwab’s website says Schwab Crypto is coming soon and invites customers to join an update list for early access to the account, which is to be offered by Charles Schwab Premier Bank, SSB. The page states that the account will serve as a gateway to buy and sell Bitcoin and Ethereum. Schwab is already offering other forms of crypto exposure through exchange-traded products, thematic funds, futures and related research on its main brokerage platform.
Institutional expansion accelerates
Morgan Stanley Investment Management said on Jan. 6 that it had filed initial registration statements with the U.S. Securities and Exchange Commission for Morgan Stanley Bitcoin Trust and Morgan Stanley Solana Trust. The firm said the products, if approved, would be passive exchange-traded products designed to track the price of the relevant cryptocurrency. The filing placed one of Wall Street’s largest wealth and asset management groups more directly into the expanding market for spot-focused crypto investment vehicles.
Franklin Templeton said on April 1 that it plans to acquire 250 Digital, an active cryptocurrency investment management firm, and combine that business with a newly formed Franklin Crypto unit. The transaction would bring over the investment team and liquid cryptocurrency strategies previously run by CoinFund, with Franklin Templeton also committing capital to the strategies. The move adds to the firm’s existing digital-asset operations and broadens its institutional crypto offering beyond its current lineup of digital-asset investment products.
Market infrastructure broadens
The expansion is also reaching market plumbing, not just brokerage accounts and funds. BNY said on Jan. 9 that it had enabled an on-chain mirrored representation of client deposit balances on its digital assets platform, starting with collateral and margin workflows. Earlier, in July 2025, BNY and Goldman Sachs announced a tokenized money market fund solution that records customer ownership using blockchain technology. Those initiatives show large financial firms are building settlement, custody and cash-management rails alongside investment products linked to digital assets.
The operating backdrop for that buildout has become more defined since the SEC approved the listing and trading of spot bitcoin exchange-traded products in January 2024 and later permitted in-kind creations and redemptions for bitcoin and ether ETPs in July 2025. With Bitcoin again trading above $70,000 during the session, the latest price move and the steady rollout of trading, fund and infrastructure services indicate that cryptocurrency is continuing to gain a firmer place inside regulated U.S. finance.