Bitcoin Is More Than Just an Asset, Says TD Cowen
By Mathew Di Salvo
AI summary of the source article
Following attendance at the BitcoinTreasuries Conference in New York, investment bank TD Cowen stated that Bitcoin is moving beyond a standalone investable asset toward acting as financial infrastructure for institutional products and capital-markets activity. The bank noted that conversations are focusing heavily on the surrounding ecosystem rather than merely accumulating the cryptocurrency. TD Cowen also highlighted that custody is becoming increasingly institutional as larger capital enters the space. This shift is mirrored by major lenders, including BNY Mellon, which launched digital asset custody in 2022, and Deutsche Bank, which plans to debut custody services for European corporate and institutional clients in 2026.
Why it matters
The development indicates that major institutions and global banks are shifting from merely holding Bitcoin to integrating it into core financial and custody infrastructure.
Key facts
- TD Cowen stated Bitcoin is evolving into financial infrastructure capable of supporting new capital-markets activity.
- BNY Mellon became the first major U.S. bank to launch digital asset custody services in 2022.
- Deutsche Bank plans to launch a bitcoin custody service for European corporate and institutional clients in 2026.