U.S. Bank resumes bitcoin crypto custody services for institutional investment managers

Offering expanded to include bitcoin ETFs

MINNEAPOLIS – U.S. Bank announced today that it has resumed offering cryptocurrency custody services – originally announced in 2021 – as an early access program to Global Fund Services clients. The services are intended for institutional investment managers with registered or private funds who seek a secure safekeeping solution for bitcoin. NYDIG, a vertically integrated bitcoin financial services and power infrastructure firm, will act 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.”

Dominic Venturo, senior executive vice president and chief digital officer at U.S. Bank, said, “U.S. Bank has been at the forefront of exploring how digital assets can serve our clients. Further expanding our capabilities unlocks new opportunities to deliver innovative solutions to those we serve. U.S. Bank will continue to drive progress and shape the future of what matters for our clients in digital finance.”

U.S. Bank Wealth, Corporate, Commercial and Institutional Banking has more than $11.7 trillion in assets under custody and administration as of June 30, 2025. In addition to offering alternative investment, ETF, fund custody, and fund administration services, it also offers asset management products and services, corporate trust and custody services, and wealth management services. To connect with U.S. Bank about cryptocurrency custody services, visit usbank.com/investment-services.

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Contact:
U.S. Bank

Kimberly Mikrot, U.S. Bank Public Affairs and Communications

kimberly.mikrot@usbank.com | 612.206.2553

About U.S. Bank

U.S. Bancorp, with approximately 70,000 employees and $686 billion in assets as of June 30, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer servicing, including being named one of the 2025 World’s Most Ethical Companies and one of Fortune’s most admired superregional banks. Learn more at usbank.com/about.

About NYDIG

NYDIG develops proprietary infrastructure to profitably interact with bitcoin-related power and financial services markets. The company's expansive power infrastructure footprint supports bitcoin’s proof-of-work security, high-performance compute capacity, and capitalizes on other productive deployments of scaled low-cost energy. NYDIG pioneered bitcoin financial infrastructure through its proprietary, regulated custody and execution platform, delivering institutional-grade spot and derivatives trading, as well as structuring and financing services to a large institutional client base. NYDIG operates within Stone Ridge Holdings Group, a financial services firm focused on alternative asset management, reinsurance, and bitcoin, with industry-leading operating companies that support and enhance each other. Learn more at nydig.com.