same for: U.S. Bank restarts bitcoin custody services with expanded offering
🚨 U.S. BANK RESTARTS BITCOIN CUSTODY SERVICES WITH EXPANDED OFFERING 🚨
U.S. Bank, the fifth-largest bank in the United States, has relaunched its Bitcoin custody service for institutional investment managers, including expanded support for spot Bitcoin ETFs. This move follows a four-year regulatory pause triggered by earlier SEC guidance, and is enabled by recent regulatory rollbacks and rising institutional demand.
🔑 Key Points
🔹 Expanded Custody Services: U.S. Bank’s renewed service targets institutional managers of registered or private funds, offering secure, regulated custody for Bitcoin and Bitcoin ETFs. The bank is partnering with NYDIG (New York Digital Investment Group) as a sub-custodian to deliver trusted, enterprise-grade infrastructure.
🔹 Regulatory Clarity and Market Demand: The program revival was made possible by the rescission of SEC Staff Accounting Bulletin No. 121 and an Office of the Comptroller of the Currency decision that eased banks’ participation in crypto activities. Increased demand from institutional clients, especially for Bitcoin ETF custody and administration, is driving U.S. Bank’s renewed focus.
💡 Why It Matters
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Institutional Adoption: The move signals accelerating institutional trust and demand for Bitcoin custody and ETF solutions from major banks.
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Regulatory Trend: Recent U.S. federal moves to relax crypto oversight have broadened access and may reshape the banking landscape for digital assets.
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Bridging TradFi and Crypto: Partnership with NYDIG reinforces banks’ ability to manage the security and compliance expectations of institutional crypto clients.
U.S. Bank’s restart of Bitcoin custody services marks a significant milestone, narrowing the gap between traditional finance and digital assets in an increasingly crypto-friendly regulatory environment.
https://beincrypto.com/us-bank-resumes-bitcoin-custody-amid-eased-rules/