The crypto market moved sideways on Friday as Bitcoin and major altcoins remained stuck in a tight range. Prices showed little reaction even as signs of growing institutional interest continued to build.
Bitcoin was trading near $89,000, while Ethereum remained below the key $3,000 support level. The total crypto market value held steady around $3 trillion, and the Crypto Fear and Greed Index slipped deeper into the fear zone at 34.
UBS, the world’s largest wealth manager with more than $4.7 trillion in assets, is preparing to enter the crypto trading market. According to Bloomberg, the bank plans to allow selected clients to trade Bitcoin and Ethereum.
The rollout will begin with Swiss clients before expanding to other regions, including Asia and the United States. UBS said it is closely monitoring regulatory developments and client demand while maintaining strict risk controls.
UBS joins a growing list of major financial institutions moving into digital assets. BlackRock currently operates the largest crypto ETF business, with more than $80 billion in assets, while its tokenized fund BUIDL has surpassed $4 billion.
Other firms are also expanding their crypto offerings. JPMorgan recently launched its first tokenized fund, Charles Schwab plans to introduce crypto trading services this quarter, and companies such as Morgan Stanley, Fidelity, and Robinhood continue to increase exposure.
Despite this momentum, the market remains cautious. One reason is the stalled CLARITY Act, which has paused in the U.S. Senate Banking Committee. The delay followed Coinbase withdrawing its support over concerns related to tokenization and stablecoin rewards.
The CLARITY Act was expected to be a major regulatory milestone after the GENIUS Act, which focused on stablecoin rules. Stablecoins now hold more than $300 billion in total assets.
Looking ahead, traders are also watching the Federal Reserve’s interest rate decision next week. Economists expect rates to remain unchanged, which could influence short-term crypto market direction.
