Bank of America has identified 20 U.S listed companies it rated “Buy” and “Neutral” that have exposure to digital assets. 

The companies are those that “may see market value expansion due to digital asset exposure,” BofA BAC, +2.03% said in a report led by Alkesh Shah, head of the bank’s global cryptocurrency and digital asset strategy. The bank launched its digital asset research coverage on Monday. 

The digital assets-exposed companies range from crypto exchange Coinbase Global COIN, +4.70%, to banks JP Morgan Chase JPM, +1.63%, Morgan Stanley MS, +2.11%, and Signature Bank SBNY, -0.16%, to financial technology company PayPal PYPL, +2.02%, to energy companies Exelon Corporation EXC, -0.02%, NRG Energy NRG, +1.41% and Vistra Energy VST, +2.00%.  

The list also included Fox Corporation FOX, +0.99%, Walt Disney Company DIS, +0.66%, and Warner Music Group WMG, +0.83%, among others. 

The report wrote that the digital asset universe is too large to ignore, and said decentralized finance apps and non-fungible tokens represent “the most innovation.” Regulatory uncertainty is the largest near-term risk, according to the report. 

“In the near future, you may use blockchain technology to unlock your phone; buy a stock, house or fraction of a Ferrari; receive a dividend; borrow, loan or save money; or even pay for gas or pizza,” the report wrote. 

In the first half of 2021, venture capital investments in digital assets and blockchain amounted to $17 billion, up from $5.5 billion for the whole year of 2020, the report noted. 

What else is going on about crypto?
  • Bitcoin BTCUSD, +2.33% has rallied 4.8% over the past 24 hours, recently trading at $52,403, after SEC chairman Gary Gensler said on Tuesday that the U.S. won’t ban cryptocurrencies as China did. When asked by North Carolina Rep. Ted Budd whether the U.S. would implement similar crypto bans like China, Gensler told the Congress, “I think our approach is really quite different.” Ether ETHUSD, -2.63% is recently trading at $3,445, up 0.1% over the past 24 hours.
  • AMC AMC, +0.79% theaters now accepts payments in cryptocurrencies for gift cards through BitPay Wallets, AMC’s CEO Adam Aron tweeted on Tuesday.
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  • The non-fungible tokens space has generated $10.7 billion in trading volume during the third quarter of 2021, up 704% from the previous quarter, according to a recent report by data provider DappRadar.

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