Bitcoin News Today: U.S. Bank Bridges Traditional and Digital Finance with Bitcoin Custody Revival

U.S. Bank has resumed its cryptocurrency custody services for institutional clients, marking a significant development in the bank's digital asset strategy three years after initially pausing the offering due to regulatory uncertainties. The services are being reintroduced as part of an early access program for Global Fund Services clients, specifically targeting institutional investment managers with registered or private funds seeking secure storage solutions for bitcoin [1]. The move reflects the bank's commitment to exploring digital assets and aligning with the growing institutional interest in cryptocurrencies [1].

The custody services have been expanded to include bitcoin ETFs, enhancing the scope of U.S. Bank’s offerings for institutional clients. Stephen Philipson, vice chair of U.S. Bank Wealth, Corporate, Commercial and Institutional Banking, emphasized the bank’s pride in being among the first to offer such services in 2021 and highlighted the importance of regulatory clarity in enabling the recent expansion [1]. The updated offering allows the bank to provide comprehensive solutions for managers interested in custody and administration services, further solidifying its position in the evolving digital finance landscape [1].

To support the custody services, U.S. Bank has partnered with NYDIG, a vertically integrated bitcoin financial services and power infrastructure firm, to act as the bitcoin sub-custodian. Tejas Shah, CEO of NYDIG, expressed enthusiasm about the collaboration, noting that the partnership aims to bridge the gap between traditional finance and the modern economy by facilitating access to bitcoin for Global Fund Services clients [1]. Dominic Venturo, U.S. Bank’s senior executive vice president and chief digital officer, stated that the bank’s continued expansion into digital asset capabilities is unlocking new opportunities to deliver innovative solutions to its clients [1].

The resumption of custody services comes at a time of increased institutional activity in the bitcoin market. Anchorage Digital and Galaxy Digital, two of the largest custodians in the sector, have also reported surges in institutional participation. BNY, which manages $52 trillion in assets, is actively building out its digital custody services. Analysts suggest that the growing adoption of custody solutions is helping to tighten liquidity and reinforce bitcoin's role as a long-term institutional asset [3]. These developments underscore the broader trend of traditional financial institutions recognizing the strategic value of digital assets and integrating them into their offerings [3].

U.S. Bank Wealth, Corporate, Commercial and Institutional Banking oversees more than $11.7 trillion in assets under custody and administration as of June 30, 2025. In addition to cryptocurrency custody, the bank provides a range of services, including alternative investment, ETF, fund custody, fund administration, asset management, corporate trust, and wealth management. The resumption of bitcoin custody services is part of the bank’s broader digital innovation strategy, which has earned it recognition as one of the 2025 World’s Most Ethical Companies and one of Fortune’s most admired superregional banks [1].

Source:

[1] 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)

[2] US Bancorp Resumes Bitcoin Custody For Institutional Clients (https://stocktwits.com/news-articles/markets/equity/us-bancorp-resumes-bitcoin-custody-for-institutional-clients/chwTUUhRd8N)

[3] Bitcoin is Back Above $110000 as ETF Inflows and Custody Growth Fuel Gains (https://cryptodnes.bg/en/bitcoin-is-back-above-110000-as-etf-inflows-and-custody-growth-fuel-gains/)