Six global systemically important banks all approached the same exchange at the same time—but what they’re really discussing are two words that truly matter, hidden in “consultant” 🦖
⚡ 有大动静群里说
Here’s what’s going on: a leading U.S. exchange has openly admitted that it’s working with advisers from six “global systemically important banks” (G-SIBs) with the goal of expanding its exposure to Bitcoin. G-SIBs are the list of the world’s most core, most interconnected banks identified by the Financial Stability Board (FSB), and there are only around 30 in the world. Having six show up at once means one-fifth of the “top list” is sitting at the same table at the same time 📈
But there’s a key premise that must be made clear: the claim comes from the exchange itself, not from the banks, and it doesn’t name which six banks they are. No deal structure, no amounts, no products, no timetable.
Why are the words “consultant” so critical? An adviser at a G-SIB might only be helping clients with feasibility studies, running models, or representing a client with authorization—this is completely different from a bank using its own balance sheet to buy Bitcoin, or making capital-allocation decisions that way. Because G-SIBs face higher capital requirements and stricter regulatory constraints, if they really wanted to hold Bitcoin themselves, they would have to go through far more extensive regulatory procedures than just “consultant discussions” ⚖️
So why were they being approached? In recent years, the exchange has been laying out institutional infrastructure widely: international exchanges, custody, and a derivatives pipeline obtained through the acquisition of Deribit. For banks, custody, prime brokerage, over-the-counter derivatives, and even Bitcoin-collateralized lending are all routes to obtain exposure without “directly holding Bitcoin”—and there aren’t many counterparties that can offer all of these at once.
⚠️ A bucket of cold water: there are lots of deals like this every year, and only a few actually materialize. The truly important things to watch are three questions—whether these six will be named, whether there will be a first disclosure of capital/transaction size, and whether regulators grant approval in advance. Until those three points are clearly established, it’s more like a “scouting trip” than an “entry” into the market.
My view: Bitcoin surged intraday to $87,229 and then pulled back; the current price is around $85,000, and in the past 24 hours it’s only up 0.18%. Based on price alone, it’s hard to tell a brand-new story. The CLARITY Act just failed by a vote of 49 to 50, and the SEC and the CFTC are each scrambling to release their own rules. This exchange chose that window to float the story—it’s not only applying pressure on regulators, it’s also giving the institutional side a chance to stake a position.
How many of these six banks do you think will ultimately actually put Bitcoin onto their own balance sheet? Chat in the comments.
Click the avatar to watch the live stream
Every day, I’ll help you follow Bitcoin headlines—not just what happens in the news, but also how to understand the underlying logic and opportunities 👀🚀
⚡ 有大动静群里说
Here’s what’s going on: a leading U.S. exchange has openly admitted that it’s working with advisers from six “global systemically important banks” (G-SIBs) with the goal of expanding its exposure to Bitcoin. G-SIBs are the list of the world’s most core, most interconnected banks identified by the Financial Stability Board (FSB), and there are only around 30 in the world. Having six show up at once means one-fifth of the “top list” is sitting at the same table at the same time 📈
But there’s a key premise that must be made clear: the claim comes from the exchange itself, not from the banks, and it doesn’t name which six banks they are. No deal structure, no amounts, no products, no timetable.
Why are the words “consultant” so critical? An adviser at a G-SIB might only be helping clients with feasibility studies, running models, or representing a client with authorization—this is completely different from a bank using its own balance sheet to buy Bitcoin, or making capital-allocation decisions that way. Because G-SIBs face higher capital requirements and stricter regulatory constraints, if they really wanted to hold Bitcoin themselves, they would have to go through far more extensive regulatory procedures than just “consultant discussions” ⚖️
So why were they being approached? In recent years, the exchange has been laying out institutional infrastructure widely: international exchanges, custody, and a derivatives pipeline obtained through the acquisition of Deribit. For banks, custody, prime brokerage, over-the-counter derivatives, and even Bitcoin-collateralized lending are all routes to obtain exposure without “directly holding Bitcoin”—and there aren’t many counterparties that can offer all of these at once.
⚠️ A bucket of cold water: there are lots of deals like this every year, and only a few actually materialize. The truly important things to watch are three questions—whether these six will be named, whether there will be a first disclosure of capital/transaction size, and whether regulators grant approval in advance. Until those three points are clearly established, it’s more like a “scouting trip” than an “entry” into the market.
My view: Bitcoin surged intraday to $87,229 and then pulled back; the current price is around $85,000, and in the past 24 hours it’s only up 0.18%. Based on price alone, it’s hard to tell a brand-new story. The CLARITY Act just failed by a vote of 49 to 50, and the SEC and the CFTC are each scrambling to release their own rules. This exchange chose that window to float the story—it’s not only applying pressure on regulators, it’s also giving the institutional side a chance to stake a position.
How many of these six banks do you think will ultimately actually put Bitcoin onto their own balance sheet? Chat in the comments.
Click the avatar to watch the live stream
Every day, I’ll help you follow Bitcoin headlines—not just what happens in the news, but also how to understand the underlying logic and opportunities 👀🚀
