Dearest readers, it seems US Bank, the fifth-largest bank in these United States, has decided to dust off its crypto gloves and re-enter the ring of Bitcoin custody after a rather lengthy four-year sabbatical. 🕰️Bitcoin, how quaint!
The esteemed institution will now offer custody for Bitcoin and support for exchange-traded funds (ETFs), a delightful treat for those institutional investment managers with registered or private funds. How terribly exciting, isn’t it?
US Bankcorp, with all the grace and poise one would expect from a bank of its stature, has relaunched its custody services with a fresh focus on Bitcoin and Bitcoin ETFs. This grand initiative is designed to provide institutional fund managers with the secure, regulated access to digital assets they so desperately crave. It marks the most significant new step since the bank first dipped its toes into the crypto waters in 2021. Oh, what a splash it will make!
Stephen Philipson, a vice chair at US Bank, couldn’t help but express his delight and the bank’s unwavering commitment to institutional investors. “This is about giving fund managers reliable custody and administration for Bitcoin ETFs, which we see as central to institutional demand,” he declared, as if announcing the arrival of the latest couture collection. 🌟
And we are back! We’re resuming #cryptocurrency custody services for institutional investment managers with registered or private funds-offering secure safekeeping for #bitcoin, with @NYDIG as sub-custodian. ₿
– U.S. Bank (@usbank) September 3, 2025
In 2021, US Bankcorp bravely ventured into the world of digital asset custody, embracing Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and other altcoins. Alas, the service was temporarily mothballed the following year due to the Securities and Exchange Commission’s Staff Accounting Bulletin No. 121, which made the financial burden of crypto custody rather unpalatable. But fear not, my dear readers, for the winds of change have blown in favor of our intrepid bank once more.
This bold move is a testament to the shifting tides of regulation under the Trump administration and the burgeoning appetite among institutional investors for secure Bitcoin services. In August, the Federal Reserve, in a stroke of genius, terminated a supervisory program that had been monitoring banks involved in crypto activities since 2023. This change has lifted the heavy hand of “crypto debanking” that had weighed down the industry. 🙌
Teams Up With NYDIG to Bolster Bitcoin Custody
US Bancorp, ever the trendsetter, now stands alongside other major financial institutions like BNY Mellon and State Street in offering regulated digital asset custody. Analysts predict this will spark a fierce competition as the demand for Bitcoin ETFs among institutional investors continues to soar. How thrilling!
To ensure the smoothest possible operation, US Bank has partnered with the New York Digital Investment Group (NYDIG), a veritable paragon of Bitcoin-focused financial services and infrastructure. Tejas Shah, the charismatic CEO of NYDIG, expressed his enthusiasm for the collaboration. “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,” he proclaimed, as if unveiling a new masterpiece. 🎨
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2025-09-04 03:47