A new report says there are roughly 6,000 banks with assets of more than $1 trillion.
The data comes from data firm Bloomberg Intelligence.
The top 10 are: Credit Suisse, Morgan Stanley, Bank of America, Bank Of New York Mellon, Goldman Sachs, Wells Fargo, JP Morgan Chase and Citigroup.
The next two spots go to Deutsche Bank and JP Morgan.
The chart below shows the average total exposure to cryptocurrencies among the top 10 banks.
The most exposure to bitcoin is the $3.3 trillion Deutsche Bank, with an average exposure of $11.4 billion.
The second most exposed is the bank at the bottom of the chart, JPMorgan Chase, which has an average total investment of $2.8 billion.
All 10 of the largest banks have at least $1 billion of cryptocurrency exposure.
The study by Bloomberg Intelligence, based on information from Bloomberg, Bloomberg LP and FactSet, tracks investment portfolios, credit risk and other information for the S&P 500 and the Nasdaq.
Credit Suse, Morgan, Bank, JPMorgan and Wells Fargo each have $1.3 billion of assets in cryptocurrency.
The remaining three banks have assets of $1 million or less, and no cryptocurrencies.
Credit is a good metric for cryptocurrency because it’s not tied to a specific currency, the researchers say.
In addition, it’s relatively low risk, which means investors aren’t likely to lose money if a currency collapses.
The median total exposure for the top banks is $3 billion.
On the other hand, for the bottom 10, the median total is $1,000.
Banks with low exposure to cryptocurrency have higher credit risk, the report found.
That’s because the funds are generally held in more liquid assets, like checking accounts and savings accounts, rather than actively trading.
That means they’re less exposed to price swings and can’t be forced to pay the fees associated with cryptocurrency trades.
The bottom 10 banks have an average portfolio size of $3,700.
The middle 10 have an even lower portfolio size, at $1 — the only two banks in the bottom 20 with less than $100,000 in assets.