US Bank, the fifth-largest bank in the US, has restarted its cryptocurrency custody operations after a four-year break. The bank is now offering custody services for Bitcoin and Bitcoin ETFs, specifically targeting institutional investment managers.
The bank had originally entered the crypto custody space in 2021 but paused the service in 2022 due to regulatory challenges, including a ruling by the SEC that required banks to hold crypto on their balance sheets. The recent resumption of services follows changes in the regulatory environment, including the Federal Reserve ending a supervisory program that had monitored banks’ crypto activities.
To provide these services, US Bank is collaborating with NYDIG (New York Digital Investment Group), a firm specializing in Bitcoin infrastructure. This partnership places US Bank in competition with other major financial institutions, such as BNY Mellon and State Street, in meeting the growing institutional demand for regulated digital asset services.
September 2025, Cryptoniteuae
