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U.S. Bank Resumes Bitcoin (BTC) Custody Services, Adds Support for ETFs
U.S. Bank resumes Bitcoin custody after regulatory easing, partnering with NYDIG to offer secure services for institutional investors and Bitcoin ETFs, amidst growing market demand.
- On September 3, U.S. Bancorp relaunched institutional Bitcoin custody and added support for spot Bitcoin ETFs, offering the program early-access through its Global Fund Services division.
- The change followed the SEC's introduction of SAB 122, and earlier this year regulators rescinded accounting guidance that had paused U.S. Bank's crypto custody service in 2022 due to costly capital requirements.
- In a hybrid model, NYDIG acts as bitcoin sub-custodian while U.S. Bank provides client-facing infrastructure, compliance, and reporting for institutional investment managers in an early-access program targeting Global Fund Services clients.
- Spot Bitcoin ETF inflows have reached $54.57 billion, and U.S. Bank's entry offers fund managers a bank-anchored custody alternative to Coinbase, which claims over 80% of mandates.
- Given its size, U.S. Bancorp manages more than $11.7 trillion in custody and administration as of June 30, 2025, with $686 billion in consolidated assets and 70,000 employees, targeting the $143.2 billion Bitcoin ETF sector holding 6.45% of circulating Bitcoin.
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15 Articles
U.S. Bank Resumes Bitcoin (BTC) Custody Services, Adds Support for ETFs
U.S. Bank said it restarted cryptocurrency custody offerings for institutional investment managers, broadening the service to include bitcoin (BTC) exchange-traded funds (ETFs).The program, first rolled out in 2021 and put on hold in 2022, is available on an early access basis through U.S. Bank’s Global Fund Services division, the bank said Wednesday.Custody operations will be supported by NYDIG, which is acting as the bank’s sub-custodian for b…
US Bancorp Resumes Bitcoin Custody After 3-Year Pause
US Bancorp is relaunching its Bitcoin (BTC) custody services for institutional investment managers following recent regulatory developments in the US. US Bancorp Resumes Bitcoin Custody For Fund Managers On Wednesday, US Bancorp announced that it has relaunched its offering of crypto custody services after more than three years, following the removal of a Biden-era guidance that prevented financial institutions from providing these services. US …
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Bitcoin Ethereum NewsUS Bank Restarts Bitcoin Custody Service After Years-Long Pause
The financial services giant will provide support for ETFs tracking BTC.
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