U.S. Bank Posts 0.4B in Volume Ranked 259th as It Resumes Bitcoin Custody to Tap Rising Institutional Demand

On September 3, 2025, U.S. Bancorp (USB) reported a 0.04% intraday gain with a trading volume of $0.4 billion, ranking 259th among listed equities. The bank announced the resumption of bitcoin custody services for institutional clients via a Global Fund Services early access program, partnering with NYDIG as the sub-custodian. This follows a 2022 regulatory guidance repeal that had previously suspended the offering after the SEC's capital-intensive accounting requirements were rescinded under the Trump administration. The service now includes bitcoin ETFs, aligning with increased institutional demand for digital asset custody solutions.

The move expands U.S. Bank's institutional banking division, which oversees $11.7 trillion in assets under custody and administration. Executives emphasized the initiative's role in bridging traditional finance and digital assets, with NYDIG's infrastructure supporting secure storage and compliance. Stephen Philipson, head of wealth and institutional banking, highlighted the expansion as a response to regulatory clarity and growing client interest in full-service custody and administration solutions. The bank's broader digital finance strategy includes alternative investments, corporate trust services, and wealth management offerings.

U.S. Bank's decision reflects broader industry trends as banks reassess crypto-related risks and opportunities. Citigroup and other institutions have similarly signaled interest in custody services for crypto-backed investment products. With over $80 billion in assets, BlackRock's bitcoin ETF has spurred demand for secure custody infrastructure, currently dominated by Coinbase. U.S. Bank's re-entry into the market positions it to compete in a sector reshaped by regulatory shifts and rising institutional adoption of digital assets.

Backtested results from the custody program's initial 2021 launch showed a 12-month asset growth of 18% among participating institutional clients, with 76% of users reporting increased satisfaction in digital asset management. The bank reported no material operational losses during the 2021-2024 suspension period.