Bitcoin News Today: U.S. Bank Reclaims Crypto Custody Role as Institutional Confidence Grows

U.S. Bank has resumed offering bitcoin custody services to institutional investment managers, marking a significant step in the ongoing institutional adoption of digital assets. The services, originally launched in 2021 and paused in 2022, have now been expanded to include bitcoin exchange-traded funds (ETFs) [2]. This move is part of the bank’s broader strategy to develop comprehensive digital asset solutions for its clients, particularly those managing registered or private funds [1]. The early access program is being offered through U.S. Bank’s Global Fund Services division and is intended for institutional investment managers who require secure custody options for bitcoin [2].

The decision to resume and expand bitcoin custody services comes amid a period of increased regulatory clarity surrounding digital assets. According to Stephen Philipson, vice chair of U.S. Bank Wealth, Corporate, Commercial and Institutional Banking, the bank is proud to be among the early adopters of cryptocurrency custody services and is excited to reintroduce and expand them in 2025 [1]. The resumption of these services reflects a growing institutional interest in digital assets, as well as the evolving regulatory landscape that supports more structured approaches to asset management.

NYDIG, a leading bitcoin financial services and infrastructure firm, has been appointed as the primary sub-custodian for U.S. Bank’s bitcoin custody offering. The partnership allows institutional clients to access bitcoin with the security and compliance standards expected by regulated financial institutions [1]. Tejas Shah, CEO of NYDIG, emphasized the strategic value of the collaboration, stating that the partnership aims to bridge the gap between traditional finance and the modern economy by facilitating access to bitcoin as a form of sound money [1].

U.S. Bank’s digital asset initiatives are part of a broader portfolio that includes alternative investments, ETFs, fund custody, and wealth management services. The bank currently holds over $11.7 trillion in assets under custody and administration, underscoring the scale and significance of its role in the financial services sector [2]. Dominic Venturo, the bank’s senior executive vice president and chief digital officer, highlighted the institution’s commitment to exploring how digital assets can better serve its clients. He noted that expanding digital asset capabilities will unlock new opportunities for innovation and shape the future of finance [1].

The resumption of bitcoin custody services by U.S. Bank aligns with the broader trend of financial institutions reengaging with digital assets after a period of regulatory uncertainty. The inclusion of bitcoin ETFs in the offering suggests a strategic shift toward integrating tokenized assets into traditional portfolio management frameworks. Analysts note that this move could signal increased institutional confidence in the long-term viability of cryptocurrencies as investable assets, especially as the infrastructure for custody and compliance continues to mature [2].

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] 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)