According to the latest information, 14 out of the top 25 banks in the United States are actively developing Bitcoin-related products. This list includes traditional financial giants—such as JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley—and institutional players, as well as mid-sized but strong financial institutions like U.S. Bank, PNC Financial Services, Charles Schwab, BNY Mellon, and State Street. Additionally, American Express, HSBC US, USAA, and Fifth Third Bank are also on the list.

Behind this influx of mainstream financial institutions into the BTC space, it reflects the rapidly increasing recognition of Bitcoin as an asset allocation option. From the approval of spot ETFs to the improvement of institutional custody solutions, the infrastructure of the entire BTC ecosystem has become sufficiently mature, attracting the attention of traditional banking systems.

Interestingly, beyond this positive market trend, Babylon Labs, which recently received investment from a16z crypto, is also riding the wave. The project currently has an FDV valuation of $190 million and is mainly developing Vault products dedicated to the Bitcoin ecosystem. Based on its funding progress and product plans, it aims to seize the market window during the period when traditional financial institutions are entering. Whether these new projects can establish themselves in an environment full of major players remains an issue worth observing.