U.S. Bank announced Today, it officially resumes its cryptocurrency custody Reopening of a 2021 program for institutional investors. This service is being relaunched by Global Fund Services as an Early Access Program for clients. It is intended to offer secure storage solutions for bitcoin with NYDIG as sub-custodian.
U.S. Bank has relaunched the digital asset program after years of regulatory uncertainties. They cite a better framework in place for digital assets, as one key reason. As well as providing direct custody of bitcoin, the bank expanded its offerings to include custody service for bitcoin exchange-traded funds (ETFs).
Stephen Philipson, the vice-chair of U.S. Bank Wealth, Corporate, Commercial and Institutional Banking, has highlighted U.S. Bank’s role as a pioneer in digital financial services. “We’re proud that we were one of the first banks to offer cryptocurrency custody for fund and institutional custody clients back in 2021, and we’re excited to resume the service this year. Following greater regulatory clarity, we’ve expanded our offering to include bitcoin ETFs, which allows us to provide full-service solutions for managers seeking custody and administration services.”
NYDIG will be the main bitcoin sub-custodian of the program. NYDIG is a vertically integrated firm that provides bitcoin financial services, as well as power infrastructure. Tejas Sharma, NYDIG CEO, noted that this partnership demonstrates the convergence of the traditional financial system with the digital currency economy. “NYDIG is honored to partner with U.S. Bank as its primary provider for bitcoin custody services. Together, we can bridge the gap between traditional finance and the modern economy by facilitating access for Global Fund Services clients to bitcoin as sound money, delivered with the safety and security expected by regulated financial institutions.”
U.S. Bank has a strategy of expanding its digital capabilities to institutional clients. Dominic Venturo is senior executive vice-president and chief digital office. He said this initiative puts the bank on the cutting edge of innovation. “U.S. Bank has been at the forefront of exploring how digital assets can serve our clients. Further expanding our capabilities unlocks new opportunities to deliver innovative solutions to those we serve. U.S. Bank will continue to drive progress and shape the future of what matters for our clients in digital finance.”
U.S. Bank Wealth, Corporate, Commercial and Institutional Banking manages assets worth more than $11.7 Trillion dollars as at June 30, 2025. Services include asset management, ETF administration and alternative investments, trust management and corporate trust solutions.
U.S. Bancorp has its headquarters in Minneapolis and is the parent company for U.S. Bank. The bank employs approximately 70,000 people, while having assets of $686 Billion. U.S. Bank, a company recognized for innovation in digital technology and excellent client service has been recognized as a superregional bank of Fortune’s Most Awarded Superregional Banks.
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Source: bitcoinmagazine.com
