U.S. Bank don Relaunch Bitcoin Custody, Add ETF Support
U.S. Bank don relaunsh dem institutional Bitcoin custody service. Di bank bin pause dis one for 2022 after SEC come out wit SAB 121. Now, di service dey open for Global Fund Services clients for early access program. Dem use NYDIG as sub-custodian for digital assets. Dis Bitcoin custody service na for fund managers wey want secure storage and ETF integration. Di relaunch follow after SEC cancel SAB 121 and put SAB 122, wey make regulatory matter clear. U.S. Bank dey manage $11.7 trillion assets under custody and $685 billion assets under management. Dis move show say digital assets don enter mainstream, fit also bring more institutional money for Bitcoin.
Bullish
Di relaunch wey U.S. Bank do for dia Bitcoin custody service mean say many big big institutions dey support am and regulator don clear road. For short time, e fit make fund managers wey dey find secure custody want am well well and e fit make trading volume rise. For long term, if more institutions trust regulated custody way dem get, e fit make people keep putting money inside Bitcoin and the price go rise steady steady. History show say when big financial institutions dey offer custody service, e dey boost market confidence and make people put more money for crypto.