U.S. Financial institution introduced at this time that it has formally resumed its cryptocurrency custody companies for institutional funding managers, reopening a program first launched in 2021. The service, which is being relaunched as an early entry program for World Fund Companies purchasers, is designed to offer safe safekeeping options for bitcoin, with NYDIG serving because the sub-custodian.
The choice comes after years of regulatory uncertainty, with U.S. Financial institution citing a clearer framework for digital belongings as a key consider relaunching this system. Along with offering custody for bitcoin straight, the financial institution has expanded its providing to incorporate custody companies for bitcoin exchange-traded funds (ETFs).
Stephen Philipson, vice chair of U.S. Financial institution Wealth, Company, Industrial and Institutional Banking, highlighted the financial institution’s pioneering position in digital finance. “We’re proud that we had been one of many first banks to supply cryptocurrency custody for fund and institutional custody purchasers again in 2021, and we’re excited to renew the service this 12 months. Following larger regulatory readability, we’ve expanded our providing to incorporate bitcoin ETFs, which permits us to offer full-service options for managers in search of custody and administration companies.”
NYDIG, a vertically built-in bitcoin monetary companies and energy infrastructure agency, will act as the first bitcoin sub-custodian for this system. Tejas Shah, CEO of NYDIG, mentioned the partnership underscores the convergence of conventional finance with the digital asset financial system. “NYDIG is honored to associate with U.S. Financial institution as its major supplier for bitcoin custody companies. Collectively, we are able to bridge the hole between conventional finance and the fashionable financial system by facilitating entry for World Fund Companies purchasers to bitcoin as sound cash, delivered with the protection and safety anticipated by regulated monetary establishments.”
The relaunch displays U.S. Financial institution’s ongoing technique to increase its digital capabilities for institutional purchasers. Dominic Venturo, senior govt vp and chief digital officer, mentioned the initiative positions the financial institution on the forefront of innovation. “U.S. Financial institution has been on the forefront of exploring how digital belongings can serve our purchasers. Additional increasing our capabilities unlocks new alternatives to ship progressive options to these we serve. U.S. Financial institution will proceed to drive progress and form the way forward for what issues for our purchasers in digital finance.”
U.S. Financial institution Wealth, Company, Industrial and Institutional Banking at the moment manages greater than $11.7 trillion in belongings below custody and administration as of June 30, 2025. The financial institution’s companies span fund custody, ETF and various funding administration, asset administration, company belief, and wealth administration options.
Headquartered in Minneapolis, U.S. Bancorp is the mother or father firm of U.S. Financial institution, with roughly 70,000 staff and $686 billion in belongings. Acknowledged for digital innovation and consumer service, U.S. Financial institution has additionally earned recognition as one of many 2025 World’s Most Moral Corporations and one among Fortune’s most admired superregional banks.
