**U.S. Bank Reintroduces Bitcoin Custody Services for Institutions**
U.S. Bank has announced the relaunch of its cryptocurrency custody services aimed at institutional investment managers, marking a significant return to a program initially launched in 2021. This service, now available as an early access program for clients of Global Fund Services, focuses on providing secure custody solutions for Bitcoin, with NYDIG acting as the sub-custodian. The decision to resume these services comes after a period of regulatory uncertainty, with U.S. Bank noting that a clearer framework for digital assets has played a crucial role in this initiative.
In addition to direct Bitcoin custody, U.S. Bank has broadened its offerings to include custody services for Bitcoin exchange-traded funds (ETFs). Stephen Philipson, Vice Chair of U.S. Bank Wealth, Corporate, Commercial, and Institutional Banking, emphasized the bank’s pioneering efforts in the digital finance sector. “We take pride in being one of the first banks to provide cryptocurrency custody for fund and institutional clients back in 2021, and we are thrilled to bring this service back this year. With increased regulatory clarity, we have expanded our services to include Bitcoin ETFs, enabling us to offer comprehensive solutions for managers in need of custody and administration services.”
NYDIG, a firm specializing in Bitcoin financial services and infrastructure, will serve as the primary sub-custodian for this program. Tejas Shah, CEO of NYDIG, highlighted the partnership’s significance in merging traditional finance with the digital asset landscape. “We are honored to collaborate with U.S. Bank as its main provider for Bitcoin custody services. Together, we aim to connect traditional finance with the modern economy, providing Global Fund Services clients with access to Bitcoin as a reliable form of currency, all while ensuring the safety and security expected from regulated financial institutions.”
The relaunch aligns with U.S. Bank’s ongoing strategy to enhance its digital capabilities for institutional clients. Dominic Venturo, Senior Executive Vice President and Chief Digital Officer, stated that this initiative positions the bank at the forefront of innovation. “U.S. Bank has been leading the exploration of how digital assets can benefit our clients. By expanding our capabilities, we unlock new opportunities to deliver innovative solutions to those we serve. U.S. Bank is committed to driving progress and shaping the future of digital finance for our clients.”
As of June 30, 2025, U.S. Bank Wealth, Corporate, Commercial, and Institutional Banking manages over $11.7 trillion in assets under custody and administration. The bank’s extensive services include fund custody, ETF and alternative investment administration, asset management, corporate trust, and wealth management solutions.
**FAQ**
**What services does U.S. Bank offer for Bitcoin custody?**
U.S. Bank provides secure custody solutions for Bitcoin and Bitcoin ETFs, catering specifically to institutional investment managers, with NYDIG serving as the sub-custodian.
