US Bank restarts bitcoin institutional crypto custody service
04 September 2025 US
Image: rybindmitriy/stock.adobe.com
US bank is recommencing its cryptocurrency custody services after a more than three-year pause, a move it suggests it is making as the Trump administration’s pro-crypto stance has motivated some conventional financial organisations to delve into digital assets.
US Bank’s bitcoin custody programme — which was initially announced to be offered in 2021 — is tailored to institutional investment managers with registered or private funds and will include bitcoin ETFs for the first time.
Crypto firm, NYDIG will function as the bitcoin sub-custodian.
Stephen Philipson, vice chair, U.S. Bank, Wealth, Corporate, Commercial and Institutional Banking, said: “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 is honored to partner with U.S. Bank as its primary provider for bitcoin custody services,” said Tejas Shah, CEO of NYDIG.
“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.”
US Bank’s bitcoin custody programme — which was initially announced to be offered in 2021 — is tailored to institutional investment managers with registered or private funds and will include bitcoin ETFs for the first time.
Crypto firm, NYDIG will function as the bitcoin sub-custodian.
Stephen Philipson, vice chair, U.S. Bank, Wealth, Corporate, Commercial and Institutional Banking, said: “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 is honored to partner with U.S. Bank as its primary provider for bitcoin custody services,” said Tejas Shah, CEO of NYDIG.
“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.”
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