June 23 will be marked as a historic day in the cryptocurrency world. world’s history as VanEck, a leading global asset management firm and cryptocurrency ETF provider, participated in the opening bell ceremony at Nasdaq.
Matthew Sigel, Head of Digital Assets Research at VanEck, shared this significant news on his X account (formerly Twitter). During the ceremony, the Pudgy Penguins’ mascot was also present at the event.
🚨 VanEck Rings the Opening Bell at Nasdaq as Wall Street Deepens Embrace of Digital Assets pic.twitter.com/L3mBZuGWyC
— matthew sigel, recovering CFA (@matthew_sigel) June 23, 2025
VanEck Celebrates Crypto at Nasdaq Opening
In 2025, Wall Street and major U.S. banks are taking a leap of faith toward adopting cryptocurrencies. After years of hesitation due to regulatory uncertainty, financial institutions like JPMorgan, Bank of America, and Morgan Stanley are now exploring ways to integrate digital assets into their services, which is why VanEck’s appearance at Nasdaq marks a major event.
The reason behind the growing adoption of cryptocurrency comes after significant developments in the cryptocurrency regulatory framework. This shift makes it safer for banks to engage with Bitcoin, stablecoins, and blockchain technology.
One of the biggest areas of interest for banks is crypto custody, where they securely store digital assets for clients. While this business has thin profit margins, it is seen as a safe entry point into the cryptocurrency market.
Some banks are also exploring stablecoins, which are cryptocurrencies pegged to traditional assets like the USD.
On June 17, the U.S. Senate cleared a major stablecoin bill by passing the GENIUS Act, which is expected to bring clear regulatory guidelines for USD-backed stablecoins.
Amid such progress in the regulatory framework, Bank of America has hinted at launching its own stablecoin, while others are considering joint projects.
Earlier, the Bank of America CEO, Brian Moynihan, said in an interview: “If they make that legal, we will go into that business. It’s pretty clear there’s going to be a stablecoin, which is going to be fully dollar-backed… so you’ll have a Bank of America coin and a U.S. Dollar deposit and we’ll be able to move them back and forth because now it hasn’t been legal for us to do it but it’s just like another foreign currency.”
However, most institutions are starting small, such as launching pilot programs, forming partnerships with crypto firms, or offering limited trading options.
Charles Schwab is preparing to offer spot crypto trading, which allows customers to buy and sell Bitcoin and other digital currencies directly through their platforms.
Recently, JPMorgan revealed that the firm is planning to launch its own stablecoin-like deposit token, JPMD, on Coinbase’s public blockchain Base.
