US Bank Resumes Bitcoin Custody Services After 4-Year Hiatus

US Bank, the fifth-largest bank in the United States, has officially resumed its digital asset custody operations after four years of suspension, following regulatory easing and growing demand from institutional investors.

Us Bank Resumes Bitcoin Custody Services After 4 Year Hiatus

The bank will provide custody services for Bitcoin and support for exchange-traded funds (ETFs), targeting institutional fund managers, including both registered and private funds. This marks the bank’s most significant step in the digital asset space since it first entered crypto custody in 2021.

Stephen Philipson, Vice Chair of US Bank, emphasized: “We aim to provide fund managers with reliable custody and administration for Bitcoin ETFs – a demand that is becoming central to institutional investors.”

Previously, in 2021, US Bank launched custody services for a variety of digital assets, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, the service was suspended the following year after the U.S. Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin No. 121, which required institutions to record digital assets on their balance sheets—making custody services costly and difficult to sustain.

Us Bank Shares On X
Us Bank Shares On X

The bank’s return comes amid looser regulatory policies under the Trump administration and rising institutional demand for secure Bitcoin access. Notably, the Federal Reserve has recently ended a supervisory program that had monitored banks engaged in crypto since 2023, easing oversight that many industry groups had criticized as “crypto debanking.”

Partnering with NYDIG to Strengthen Bitcoin Custody

Alongside BNY Mellon and State Street, US Bank is now among the major financial institutions offering regulated digital asset custody. Analysts expect the move to intensify competition as institutional demand for Bitcoin ETFs continues to grow.

To power its operations, US Bank has partnered with New York Digital Investment Group (NYDIG), a firm specializing in Bitcoin-focused financial services and infrastructure. Tejas Shah, CEO of NYDIG, noted: “This partnership allows us to bridge traditional finance with the modern digital economy, giving global fund clients access to Bitcoin as sound money, delivered with the safety and security expected from regulated financial institutions.”

Love

0.0/5

Love

Latest

Bitcoin Hits A New Ath As Profit Margins Continue To Shrink

News | Bitcoin | Editor Choice

Bitcoin Hits a New ATH as Profit Margins Continue to Shrink

Although Bitcoin (BTC) continues to set new price records after every halving, historical data shows that the world’s largest cryptocurrency is experiencing diminishing returns with each new cycle.

Cz Says He Was Threatened To Pay $4.4 Billion

News | Editor Choice | Policy & Regulations

CZ Says He Was Threatened to Pay $4.4 Billion

CZ, the founder of Binance, has shaken the crypto world by claiming he was threatened to pay $4.4 billion to avoid false accusations that his exchange financed terrorism.

Binance Hits Record Altcoin Trading Volume As Altseason Heats Up

News | Altcoin | Editor Choice

Binance Hits Record Altcoin Trading Volume as “Altseason” Heats Up

Binance has set a historic record as altcoins captured 82.3% of total trading volume, signaling a new “altseason” fueled by surging institutional inflows and investor demand for non-Bitcoin tokens.

How To Join The Idos Airdrop

Editor Choice | Airdrops

How to Join the idOS Airdrop

Join the idOS Network airdrop! The project has successfully raised $4.5M and is now letting users earn points that can be redeemed for rewards.

Binance Restores Hacked X Account, Losses Limited To $13k

News | Editor Choice | Policy & Regulations

Binance Restores Hacked X Account, Losses Limited to $13K

Crypto exchange Binance has regained control of the official BNB Chain X (Twitter) account after a phishing attack that caused around $13,000 in user losses.

Screenshot 2025 09 10 100533