Bank of America (BofA) statistics shows Walt Disney, Fox Corporation, and JP Morgan are among a list of 20 U.S. companies with some level of exposure to crypto and digital assets.
Companies like Morgan Stanley, Signature Bank, and Warner Music Group, according to a BofA research released on Monday, have some exposure to digital assets.
The equities of the 20 companies selected by BofA are rated “Buy” or “Neutral” by America’s second-largest bank by assets under management.
BofA classified these companies as seeking significant market value increase through interacting with digital assets as part of the analysis.
BofA’s recently published document presented a bright view for cryptocurrencies, including nonfungible tokens, or NFTs, and decentralized finance, or DeFi.
BofA also asserted that the digital asset space cannot be ignored for long and that decentralized technology will continue to pervade many facets of human life.
An excerpt from the paper reads, “In the near future, you may use blockchain technology to unlock your phone; buy a stock, house, or fraction of a Ferrari; earn a dividend; borrow, loan, or save money; or even pay for petrol or pizza.”
However, one of the main near-term roadblocks for the young digital asset industry, according to BofA, is regulatory uncertainty.
Cryptocurrency regulations continue to be a focus of regulatory authorities around the world, with a combination of positive and punitive measures being taken by financial watchdog agencies in a variety of nations.
Several policymakers in the United States have urged for more stringent crypto rules, which critics argue will impede innovation in the country.
The publication of the report also served as the introduction of the banking giant’s digital asset research section. Indeed, In July that Bank of America was reportedly forming a crypto research team.