Haciyev Reşit 
U.S. Bancorp, one of the five largest commercial banks in the U.S., has announced the relaunch of its Bitcoin and crypto custody services for institutional asset managers. The move follows the Trump administration’s more favorable stance toward digital assets and the repeal of the SAB 121 rule introduced under the Biden administration.
Regulatory Shifts Open the Door
Back in 2022, U.S. Bancorp had planned to offer Bitcoin custody in partnership with financial services firm NYDIG, but stricter requirements from the former SEC leadership stalled the initiative. Now, the bank is resuming the plan, with NYDIG once again acting as the sub-custodian responsible for the physical safekeeping of Bitcoin.
Expansion into ETFs and Beyond
Stephen Philipson, head of commercial and institutional banking at U.S. Bancorp, stated:
“With greater regulatory clarity, we’ve added Bitcoin ETFs to our product lineup. This allows us to deliver full-service solutions—custody and management—to institutional clients.”
The bank also indicated that, beyond Bitcoin, it may add custody support for other cryptocurrencies if they meet internal standards.
Trump Effect and Renewed Institutional Demand
Donald Trump’s supportive stance toward crypto is seen as a catalyst for U.S. financial institutions re-entering the sector. The rollback of SAB 121 removed one of the biggest barriers preventing banks from offering crypto custody.
With this development, crypto integration in the U.S. banking sector is gaining momentum once again. U.S. Bancorp’s move could further accelerate institutional adoption of Bitcoin and other digital assets.
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