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U.S. Bank has relaunched its Bitcoin custody services for institutional clients after a two-year pause due to regulatory uncertainty. The fifth-largest U.S. bank will now support both Bitcoin and Bitcoin ETFs through a partnership with NYDIG. This move signals growing institutional acceptance following recent regulatory changes.
- Service resumed after 2022 pause caused by SEC accounting bulletin SAB 121, which was rescinded in January 2024
- Partnership with NYDIG enables custody services for Bitcoin and Bitcoin ETFs targeting institutional fund managers
- Expansion follows Federal Reserve ending special crypto monitoring program and broader regulatory easing under current administration
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