Wall Street is finally warming up to crypto, thanks to President Donald Trump’s aggressive push to boost the industry, especially after Jan. 23rd’s executive order for the National Digital Asset Stockpile.

The U.S. Securities and Exchange Commission has rescinded an accounting rule that forced banks to treat bitcoin and other tokens as a liability on their balance sheets. The guidance was a major deterrent to Wall Street banks owning bitcoin.

BlackRock chief executive Larry Fink as revealed he's had discussions with sovereign wealth funds about buying bitcoin..

Ethereum used to be seen as the most likely challenger to Bitcoin’s status as the preeminent cryptocurrency, and the one best positioned to make the blockchain a more useful technology.Most Read from BloombergWhat Happened to Hanging Out on the Street?

Bitcoin ( BTC 1.30%) had a phenomenal year in 2024. The cryptocurrency returned 119%, easily outperforming the 23% gain in the S&P 500 (SNPINDEX: ^GSPC), which itself is commonly seen as a barometer for the overall U.S. stock market. In fact, only five stocks in the S&P 500 created more wealth than Bitcoin last year.

Tether has undeniably played a pivotal role in bridging traditional finance with the digital currency world. However, its associations with illicit activities and concerns about transparency may pose systemic risks.

MicroStrategy plans to redeem $1.05B in notes amid Bitcoin tax rule concerns, due to CAMT's impact on unrealized Bitcoin gains.

GE Aerospace posts strong Q3 results, announces $7B stock buyback; shares soar. American Airlines expects a significant Q4 loss; EA cuts 2025 net bookings guidance.

Price drops reflect anxieties over fewer rate cuts, unsettling traders across cryptocurrency and broader finance.

Ethererum was once a serious contender to challenge bitcoin’s status, but it’s struggled to keep up with the Trump-fuelled crypto rally.

But as Bitcoin and many other cryptocurrencies have been soaring in recent months — thanks to President Donald Trump’s embrace — Ethereum has struggled to keep pace, despite hosting the second most valuable digital token, Ether. While Bitcoin has gone up about 160% over the last year, Ether has only risen 40%.

Wariness is passé on Wall Street. Cautious uncertainty over lingering inflation and geopolitical turbulence have been replaced by giddiness over the deregulatory bonanza financial firms expect President Donald Trump’s administration to deliver.