Bitcoin News Today:

U.S. Bank announced the resumption of its institutional Bitcoin custody services on September 3, 2025, marking a return to a service initially introduced in 2021. The offering is now available as an early access program to Global Fund Services clients, primarily targeting institutional investment managers with registered or private funds. This initiative expands U.S. Bank’s digital asset solutions to include Bitcoin ETFs, providing a full-service offering for clients seeking custody and administration services [1].

The custody service is facilitated through a partnership with NYDIG, a bitcoin financial services and power infrastructure firm, which acts as the sub-custodian for the digital assets. This collaboration is seen as a step toward bridging traditional finance with the evolving cryptocurrency market, allowing clients to access Bitcoin with the security typically associated with regulated financial institutions [2]. Stephen Philipson, vice chair of U.S. Bank Wealth, Corporate, Commercial and Institutional Banking, emphasized the bank’s leadership in the space, highlighting the expanded regulatory clarity that has enabled the service’s relaunch [3].

U.S. Bank’s decision to resume Bitcoin custody aligns with broader market developments and growing institutional interest in digital assets. The bank cited the repeal of the 2022 U.S. Securities and Exchange Commission accounting bulletin, which previously made it difficult for banks to hold crypto tokens on behalf of clients due to capital requirements. With the removal of these constraints, U.S. Bank and other financial institutions are now exploring new opportunities in the crypto space [4]. The firm reported having over $11.7 trillion in assets under custody and administration as of June 30, 2025, with its services spanning ETFs, fund custody, fund administration, corporate trust, and wealth management [5].

The move reflects an industry-wide shift toward incorporating digital assets into traditional financial infrastructure. Other major banks, such as Citigroup, have also shown interest in custody services for crypto-related investment products. The rise in popularity of spot Bitcoin ETFs has further intensified demand for secure custody solutions. BlackRock’s iShares Bitcoin Trust, the largest such ETF, has attracted over $80 billion in market capitalization since the SEC authorized these products in early 2025 [6].

NYDIG CEO Tejas Shah highlighted the significance of the partnership, stating that the collaboration aims to enhance access to Bitcoin for institutional clients while maintaining high standards of security. U.S. Bank’s chief digital officer, Dominic Venturo, reiterated the bank’s commitment to digital innovation, describing the expansion of its custody offerings as a strategic step in shaping the future of digital finance [7]. The service is expected to cater to a growing client base seeking secure and regulated digital asset management solutions amid the evolving regulatory landscape.

Source:

[1] U.S. Bank Resumes Bitcoin Cryptocurrency Custody Services for Institutional Investment Managers (https://www.barchart.com/story/news/34565000/u-s-bank-resumes-bitcoin-cryptocurrency-custody-services-for-institutional-investment-managers)

[2] U.S. Bank Resumes Bitcoin Cryptocurrency Custody Services for Institutional Investment Managers (https://ir.usbank.com/news-events/news/news-details/2025/U-S--Bank-Resumes-Bitcoin-Cryptocurrency-Custody-Services-for-Institutional-Investment-Managers/default.aspx)

[3] U.S. Bank Resumes Bitcoin (BTC) Custody Services, Adds Support for ETFs (https://www.coindesk.com/business/2025/09/03/u-s-bank-resumes-bitcoin-custody-services-adds-support-for-etfs)

[4] US Bancorp revives institutional bitcoin custody service (https://finance.yahoo.com/news/us-bancorp-revives-institutional-bitcoin-120523648.html)