Hey there, crypto enthusiasts! Today, I've got some exciting news to share with you. U.S. Bank has just announced the revival of its cryptocurrency custody services tailored for institutional investment managers. This relaunched program, initially rolled out in 2021, is now back as an early access offering for Global Fund Services clients. The main goal? To provide a safe and secure way to store bitcoins, with NYDIG stepping in as the sub-custodian.
The Resurgence of U.S. Bank's Bitcoin Custody Services
Regulatory Clarity Sparks the Rebirth
After facing regulatory uncertainties for years, U.S. Bank finally sees a clearer path for digital assets. This newfound clarity has paved the way for the relaunch of its custody program. But that's not all – the bank has upped its game by extending its services to cover bitcoin exchange-traded funds (ETFs).
Stephen Philipson's Take on U.S. Bank's Digital Finance Vanguard Role
Breaking Ground in Cryptocurrency Custody
Stephen Philipson, the vice chair of U.S. Bank Wealth, Corporate, Commercial, and Institutional Banking, took pride in the bank's trailblazing journey in the realm of digital finance. He expressed excitement about reinstating the cryptocurrency custody service and expanding it to include bitcoin ETFs. This move enables U.S. Bank to deliver comprehensive solutions to managers looking for custody and administration services.
NYDIG and U.S. Bank Join Forces for Bitcoin Custody
Bridging Traditional Finance with the Digital Asset Realm
NYDIG, a key player in bitcoin financial services and power infrastructure, will serve as the primary sub-custodian for U.S. Bank's program. Tejas Shah, NYDIG's CEO, emphasized how this collaboration signifies the convergence of traditional finance with the digital asset economy. Together, they aim to grant Global Fund Services clients access to bitcoin as a reliable form of money, all while meeting the stringent security standards expected by regulated financial institutions.
U.S. Bank's Digital Leap for Institutional Clients
Pioneering Digital Assets in Client Services
U.S. Bank's strategic move to enhance its digital offerings for institutional clients is evident in the relaunch of its custody services. Dominic Venturo, the senior executive vice president and chief digital officer, highlighted the bank's commitment to innovation. By expanding their capabilities, U.S. Bank is unlocking fresh possibilities to deliver cutting-edge solutions to their clientele, shaping the future of digital finance.
Now, here's a fascinating fact – U.S. Bank Wealth, Corporate, Commercial, and Institutional Banking presently oversees over $11.7 trillion in assets under custody and administration as of June 30, 2025. Their services encompass a wide range, from fund custody to ETF and alternative investment administration, asset management, corporate trust, and wealth management solutions.
Based in Minneapolis, U.S. Bancorp acts as the parent company to U.S. Bank, boasting around 70,000 employees and $686 billion in assets. Renowned for its digital prowess and client-centric approach, U.S. Bank has earned accolades as one of the 2025 World’s Most Ethical Companies and a highly esteemed superregional bank according to Fortune.
Exciting times ahead in the crypto and banking spheres! Stay tuned for more updates on how U.S. Bank continues to lead the charge in digital finance innovation.
Frequently Asked Questions
What is the benefit of a gold IRA?
Many benefits come with a gold IRA. It's an investment vehicle that allows you to diversify your portfolio. You control how much money goes into each account and when it's withdrawn.
You can also rollover funds from other retirement accounts to a gold IRA. This makes for an easy transition if you decide to retire early.
The best part is that you don't need special skills to invest in gold IRAs. These IRAs are available at all banks and brokerage houses. You do not need to worry about fees and penalties when you withdraw money.
There are, however, some drawbacks. Gold is known for being volatile in the past. Understanding why you want to invest in gold is essential. Are you looking for safety or growth? Is it for security or long-term planning? Only then will you be able make informed decisions.
You might want to buy more gold if you intend to keep your gold IRA for a long time. A single ounce isn't enough to cover all of your needs. You may need several ounces, depending on what you intend to do with your precious gold.
If you're planning to sell off your gold, you don't necessarily need a large amount. You can even get by with less than one ounce. But, those funds will not allow you to buy anything.
What is the cost of gold IRA fees
Six dollars per month is the fee for an Individual Retirement Account (IRA). This includes account maintenance and any investment costs.
If you want to diversify, you may be required to pay extra fees. These fees vary depending on what type of IRA you choose. Some companies offer free check accounts, but charge monthly fee for IRA accounts.
In addition, most providers charge annual management fees. These fees can range from 0% up to 1%. The average rate is.25% each year. These rates are often waived if a broker like TD Ameritrade is used.
Should You Buy Gold?
Gold was considered a safety net for investors during times of economic turmoil in the past. However, today many people are turning away from traditional investments such as stocks and bonds and instead looking toward precious metals such as gold.
The gold price has been in an upward trend for the past few years, but it remains relatively low compared with other commodities like silver or oil.
Experts think this could change quickly. They say that gold prices could rise dramatically with another global financial crisis.
They also point out that gold is becoming popular because of its perceived value and potential return.
These are some things you should consider when considering gold investing.
- The first thing to do is assess whether you actually need the money you're putting aside for retirement. It is possible to save for retirement while still investing your gold savings. That said, gold does provide an additional layer of protection when you reach retirement age.
- Second, ensure you fully understand the risks involved in buying gold. Each one offers different levels security and flexibility.
- Keep in mind that gold may not be as secure as a bank deposit. Your gold coins may be lost and you might never get them back.
Don't buy gold unless you have done your research. Protect your gold if you already have it.
Statistics
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
External Links
cftc.gov
- Fraud Advisory: Precious Metals Fraud
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By: Nik
Title: U.S. Bank Embraces Bitcoin Custody Services for Institutional Investors, Welcoming Bitcoin ETF Support
Sourced From: bitcoinmagazine.com/news/u-s-bank-resumes-bitcoin-custody-services-for-institutional-investors-adding-support-for-bitcoin-etfs
Published Date: Wed, 03 Sep 2025 15:22:57 +0000
