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S. Bank has resumed its cryptocurrency custody services for Global Fund Services clients, an early access program originally announced in 2021. The service, which utilizes NYDIG as the bitcoin sub-custodian, is designed for institutional investment managers seeking secure safekeeping solutions for bitcoin and has been expanded to include bitcoin ETFs.

This offering targets institutional investment managers with registered or private funds. U.

S. Bank’s reintroduction of the service follows an initial launch in 2021, with Stephen Philipson, vice chair, U.

S. Bank Wealth, Corporate, Commercial and Institutional Banking, noting the expansion to include bitcoin ETFs due to greater regulatory clarity. This allows the bank to provide comprehensive custody and administration services for managers.

Tejas Shah, CEO of NYDIG, stated that the partnership aims to bridge traditional finance with the modern economy by facilitating access to bitcoin for Global Fund Services clients. NYDIG, a vertically integrated bitcoin financial services and power infrastructure firm, provides institutional-grade custody and execution platforms.

Dominic Venturo, senior executive vice president and chief digital officer at U.

S. Bank, highlighted the bank’s ongoing exploration of how digital assets can serve its clients. He added that expanding these capabilities creates new opportunities for innovative solutions within digital finance.

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S. Bank Wealth, Corporate, Commercial and Institutional Banking manages over $11.7 trillion in assets under custody and administration as of June 30, 2025. Its services include alternative investment, ETF, fund custody, fund administration, asset management, corporate trust and custody, and wealth management. U.

S. Bancorp, headquartered in Minneapolis, has approximately 70,000 employees and $686 billion in assets as of June 30, 2025.