When it comes to the world of cryptocurrencies, U.S. Bank is making waves once again. In an exciting announcement, U.S. Bank declared the official relaunch of its cryptocurrency custody services tailored for institutional investment managers. This move marks the reopening of a program initially introduced in 2021, now revamped as an early access program for Global Fund Services clients. The primary aim? To offer a secure haven for bitcoin, with NYDIG taking the reins as the sub-custodian.
The Dawn of a New Era in Digital Finance
Regulatory Clarity Paves the Way
After navigating through years of regulatory ambiguity, U.S. Bank's decision to revive its crypto custody program is underpinned by a newfound clarity in the digital assets landscape. This strategic move encompasses not only the custody of bitcoin but also extends its services to include bitcoin exchange-traded funds (ETFs).
Stephen Philipson's Vision
A Trailblazing Journey
Stephen Philipson, the vice chair of U.S. Bank Wealth, Corporate, Commercial, and Institutional Banking, underscores the bank's trailblazing role in digital finance. He expressed his pride in being among the pioneers to offer cryptocurrency custody to fund and institutional clients in 2021. The expansion to include bitcoin ETFs is a testament to U.S. Bank's commitment to providing comprehensive solutions for managers seeking custody and administration services.
NYDIG: The Cornerstone of Secure Custody
Building Bridges Between Finance Realms
NYDIG, a distinguished financial services and power infrastructure firm, steps in as the primary bitcoin sub-custodian for the program. Tejas Shah, the CEO of NYDIG, emphasizes the partnership's significance in bridging traditional finance with the digital asset sector. This collaboration aims to offer Global Fund Services clients access to bitcoin as a reliable asset, coupled with the safety and security expected by regulated financial entities.
U.S. Bank's Digital Frontier
Pioneering Innovation
The relaunch of U.S. Bank's digital capabilities for institutional clients aligns with its overarching strategy. Dominic Venturo, the senior executive vice president and chief digital officer, positions the bank as a frontrunner in innovation. By expanding its offerings, U.S. Bank is unlocking novel possibilities to deliver cutting-edge solutions to its clientele, shaping the future of digital finance.
With over $11.7 trillion in assets under custody and administration as of June 30, 2025, U.S. Bank Wealth, Corporate, Commercial, and Institutional Banking is a powerhouse in the financial realm. Their extensive services range from fund custody, ETF and alternative investment administration to asset management, corporate trust, and wealth management solutions.
Headquartered in Minneapolis, U.S. Bancorp serves as the parent company of U.S. Bank, boasting around 70,000 employees and $686 billion in assets. Renowned for its digital prowess and client-centric approach, U.S. Bank has garnered accolades such as being named one of the 2025 World’s Most Ethical Companies and recognized as one of Fortune’s most admired superregional banks.
Frequently Asked Questions
How much should you have of gold in your portfolio
The amount of capital that you require will determine how much money you can make. A small investment of $5k-10k would be a great option if you are looking to start small. As you grow, you can move into an office and rent out desks. You don't need to worry about paying rent every month. You only pay one month.
Also, you need to think about the type of business that you are going to run. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. Consider how much you expect to make from each client, if you decide to do this kinda thing.
Because freelance work pays freelancers, you won't likely get a monthly income if you do freelance work. Therefore, you might only get paid one time every six months.
Decide what kind of income do you want before you calculate how much gold is needed.
I suggest starting with $1k-2k gold and building from there.
How to Open a Precious Metal IRA?
First, decide if an Individual Retirement Account is right for you. Once you have decided to open an Individual Retirement Account (IRA), you will need to complete Form 806. Then you must fill out Form 5204 to determine what type of IRA you are eligible for. This form should be filled within 60 calendar days of opening the account. Once you have completed this form, it is possible to begin investing. You could also opt to make a contribution directly from your paycheck by using payroll deduction.
For a Roth IRA you will need to complete Form 8903. Otherwise, the process will look identical to an existing IRA.
To be eligible for a precious metals IRA, you will need to meet certain requirements. The IRS stipulates that you must have earned income and be at least 18-years old. Your annual earnings cannot exceed $110,000 ($220,000 if you are married and file jointly) for any tax year. Contributions must be made regularly. These rules apply to contributions made directly or through employer sponsorship.
You can invest in precious metals IRAs to buy gold, palladium and platinum. But, you'll only be able to purchase physical bullion. This means that you will not be allowed to trade shares or bonds.
Your precious metals IRA can be used to directly invest in precious metals-related companies. This option may be offered by some IRA providers.
However, there are two significant drawbacks to investing in precious metals via an IRA. First, they don't have the same liquidity as stocks or bonds. This makes it harder to sell them when needed. Second, they don’t produce dividends like stocks or bonds. Also, they don't generate dividends like stocks and bonds. You will eventually lose money rather than make it.
What is a Precious Metal IRA, and how can you get one?
A precious metal IRA allows for you to diversify your retirement savings in gold, silver, palladium and iridium. These are called “precious” metals because they're very hard to find and very valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Bullion is often used for precious metals. Bullion refers only to the actual metal.
Bullion can be bought through many channels, including online retailers, large coins dealers, and some grocery shops.
An IRA for precious metals allows you to directly invest in bullion instead of purchasing stock shares. This means you'll receive dividends every year.
Unlike regular IRAs, precious metal IRAs don't require paperwork or annual fees. Instead, you only pay a small percentage on your gains. Additionally, you have access to your funds at no cost whenever you need them.
Can the government seize your gold?
You own your gold and therefore the government cannot seize it. You earned it through hard work. It belongs entirely to you. However, there may be some exceptions to this rule. You could lose your gold if convicted of fraud against a federal government agency. If you owe taxes, your precious metals could be taken away. However, if you do not pay your taxes, you can still keep your gold even though it is considered property of the United States Government.
What is the best precious metal to invest in?
Answering this question will depend on your willingness to take some risk and the return you seek. Although gold has traditionally been considered a safe investment choice, it may not be the most profitable. For example, if you need a quick profit, gold may not be for you. If patience and time are your priorities, silver is the best investment.
If you don't care about getting rich quickly, gold is probably the way to go. Silver might be a better investment option if steady returns are desired over a long period of time.
How can you withdraw from an IRA of Precious Metals?
You first need to decide if you want to withdraw money from an IRA account. Make sure you have enough cash in your account to cover any fees, penalties, or charges that may be associated with withdrawing money from an IRA.
A taxable brokerage account is a better option than an IRA if you are prepared to pay a penalty for early withdrawals. You will also have to account for taxes due on any amount you withdraw if you choose this option.
Next, figure out how much money will be taken out of your IRA. This calculation depends on several factors, including the age when you withdraw the money, how long you've owned the account, and whether you intend to continue contributing to your retirement plan.
Once you have determined the percentage of your total savings that you would like to convert to cash, you can then decide which type of IRA to use. Traditional IRAs allow you to withdraw funds tax-free when you turn 59 1/2 while Roth IRAs charge income taxes upfront but let you access those earnings later without paying additional taxes.
After these calculations have been completed, you will need to open a brokerage bank account. A majority of brokers offer free signup bonuses, as well as other promotions, to get people to open accounts. Avoid unnecessary fees by opening an account with your debit card, rather than your credit card.
When it comes time to withdraw your precious metal IRA funds, you will need a safe location where you can keep your coins. Some storage areas will accept bullion, while others require you to purchase individual coins. Before you choose one, weigh the pros and cons.
Bullion bars are easier to store than individual coins. You will need to count each coin individually. However, you can easily track the value of individual coins by storing them in separate containers.
Some people prefer to keep coins safe in a vault. Some people prefer to store their coins safely in a vault. You can still enjoy the benefits of bullion for many years, regardless of which method you choose.
Statistics
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
External Links
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- How do you keep your IRA Gold at Home? It's Not Exactly Legal – WSJ
