THIS IS JUST THE BEGINNING FOR CRYPTOhttps://www.coindesk.com/us-bank-cryptocurrency-custody-nydig-bitcoin-etf-admin-role In addition to its recent strategic investment in crypto infrastructure firm Securrency, U.S. Bank, part of U.S. Bancorp, the fifth-largest bank in America, said Tuesday it will offer a new cryptocurrency custody product in partnership with an unnamed sub-custodian.
U.S. Bank also announced Tuesday it has been selected to administer NYDIG’s bitcoin ETF (should it be approved by regulators) – building on the bank’s long-standing private-fund servicing relationship with NYDIG.
Big moves are happening in institutional crypto with news this week of mega-bank JPMorgan following the likes of Morgan Stanley and Goldman Sachs in offering a bitcoin fund to certain clients. While Wall Street’s first movers are getting most of the digital asset attention, U.S. Bank has been quietly and diligently working with blockchain tech since 2015.