The crypto market showed little direction on Friday, with Bitcoin and most major altcoins trading within a narrow band, even as signs of growing institutional interest continued to build. Prices barely moved, and investor sentiment slipped deeper into caution, highlighting the uneasy balance between strong long-term demand and short-term uncertainty.
Bitcoin was hovering around $89,000, up only 0.34%, while Ethereum remained under pressure, trading below the key $3,000 support level after a modest 0.51% gain. Overall market conditions stayed flat, with the total crypto market capitalization holding steady at $3 trillion. Meanwhile, the Crypto Fear and Greed Index fell to 34, placing sentiment firmly in the “fear” zone.
Despite the quiet price action, one of the world’s largest financial institutions is preparing to make a significant move into digital assets.
UBS prepares to launch crypto trading
According to a Bloomberg report, UBS, the world’s largest wealth manager with more than $4.7 trillion in assets, is getting ready to roll out crypto trading services for select clients. The Swiss banking giant plans to initially allow some Swiss customers to buy and sell Bitcoin and Ethereum, with a broader rollout planned for Asia and the United States later on.
A UBS spokesperson told Bloomberg that the bank is carefully tracking developments in the digital asset space while focusing on client demand, regulations, market trends, and strong risk controls. The move marks another major step by traditional finance into the crypto world.
UBS is far from alone. BlackRock, the world’s largest asset manager, already operates the biggest crypto ETF business, with more than $80 billion under management. Its tokenized fund, BUIDL, has attracted over $4 billion in assets.
This week, JPMorgan launched its first tokenized fund and quickly gathered more than $100 million in assets. Charles Schwab has also said it plans to introduce crypto trading solutions later this quarter.
Other major firms embracing digital assets include SoFi, Janus Henderson, WisdomTree, Morgan Stanley, Robinhood, Standard Chartered, and Fidelity. Much of this momentum is being driven by a more supportive regulatory climate in the United States, where Donald Trump has pledged to make the country the “crypto capital of the world.”
Lawmakers slow progress, markets stay cautious
While institutional interest is rising, political developments may be weighing on prices. One possible reason for the market’s hesitation is the delay of the closely watched CLARITY Act, which has stalled in the Senate Banking Committee as lawmakers shift attention to housing issues.
The bill lost momentum after Coinbase withdrew its support, citing concerns over tokenization rules and stablecoin reward proposals. Had it passed, CLARITY would have marked the second major legislative win for crypto after the GENIUS Act, which focused on stablecoin regulation. Stablecoins now hold more than $300 billion in assets.
Looking ahead, traders are also bracing for the next major macro event: the Federal Reserve’s interest rate decision scheduled for Wednesday. Economists widely expect rates to remain unchanged between 3.50% and 3.75%.
For now, crypto prices may stay stuck in a holding pattern — caught between expanding institutional adoption and lingering regulatory and economic uncertainty.
Also Read: Yield-Bearing Stablecoins Could Push Banks Deeper Into Crypto, Says David Sacks
