US Bank, one of the five largest US banks, is launching a cryptocurrency asset custody service for investment managers.
Managers managing private funds will be able to store private keys from crypto wallets with Bitcoin, Bitcoin Cash and Litecoin. Later, the bank plans to expand the list of supported cryptocurrencies and add a Bitcoin ETF to the service (if regulators approve it).
Gunjan Kedia, Deputy Chairman of the bank noted:
Our funds and institutional custodian clients are increasingly interested in the topic of cryptocurrencies. In response, we have made it a priority to enhance our ability to offer custody services for digital assets.
US Bank manages more than $8.6 trillion in assets.
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