US Bancorp crypto custody has resumed, offering Bitcoin custody to institutional funds after a U.S. SEC rule rollback under the Trump administration. The bank plans to scale services for registered funds and ETF providers while evaluating expansion into other digital assets and client segments.
US Bancorp resumes Bitcoin custody for institutional funds
Service relaunched after SEC capital rule rollback enables banks to hold crypto assets with adjusted capital treatment
Institutional focus initially on Bitcoin ETFs and registered investment funds; expansion possible based on risk standards
US Bancorp crypto custody relaunch: US Bancorp resumes Bitcoin custody for institutional funds after SEC rule rollback, signaling more banks may offer custody—read implications.
What is US Bancorp’s new digital asset custody offering?
US Bancorp crypto custody is a relaunched institutional custody service that will initially safeguard Bitcoin for registered investment funds and Bitcoin ETF providers. The bank restarted the product after a regulatory rollback that removed prior capital constraints, and it intends to scale the offering as institutional demand grows.
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The SEC rule rollback changed capital treatment for crypto-related banking activities, reducing balance-sheet restraints that previously paused many bank custody programs. Regulators including the Office of the Comptroller of the Currency have provided clearer guidance, allowing banks like US Bancorp to redeploy custody playbooks developed with fintech partners such as NYDIG.
US Bancorp resumed digital asset custody services for institutional clients following the SEC rule rollback under the Trump administration.
US Bancorp has reentered the crypto custody market by relaunching digital asset custody services aimed at institutional investment managers. The Minneapolis-based bank — the fifth-largest commercial bank in the U.S. — first piloted custody in 2021 with a fintech partner and is now proceeding after regulatory changes.
US Bancorp will initially provide custody services for Bitcoin (BTC), focusing on registered investment funds and Bitcoin ETF providers. The bank may add other cryptocurrencies later if they meet internal risk and compliance standards.
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