The case for Israel's largest bank adding bitcoin ($BTC), ether ($ETH), and solana ($SOL) trading through Galaxy rests on a single Chainalysis figure: the country received an estimated $22 billion in onchain crypto value in the twelve months ending June 2025. What's changed is who now controls the entry point. What complicates the move is whether bank-mediated infrastructure can compete with the protocol-native channels that already built that flow.
Galaxy, the digital asset firm, is supplying the trading infrastructure. Bitcoin, ether, and solana together cover the top of the crypto liquidity stack. Covering all three signals the bank is not limiting itself to the most conservative end of the asset class.
The Chainalysis figure is the number that frames everything. An estimated $22 billion in onchain crypto value reached Israel in a single year, which means demand preceded this product by years and moved through channels that required no bank involvement. The bank is opening a window into a market that already exists.
The counterargument deserves its own line: most of that $22 billion moved without a bank. Onchain value does not need a custody stack or a compliance layer to reach a wallet. Users already holding $BTC, $ETH, or $SOL through an exchange or in self-custody have no friction to remove. The Galaxy-powered product targets the portion of the Israeli market that has been sitting out because no regulated, bank-statement-friendly on-ramp existed.
On balance, this is a distribution play. The demand, an estimated $22 billion in onchain value that Chainalysis tracked through Israel in the twelve months to June 2025, was already there. The line to watch is whether the bank's offering captures any of it.