Citi Announces Institutional Bitcoin Custody Service Launch This Year, Becoming the 6th Globally Systemically Important Bank to Offer Related Services

Odaily reports that Matthew Sigel stated Citi Wealth has published a report titled "Expanding Investable Reach: A Primer on Crypto ETFs," recommending spot BTC and ETH ETFs to suitable clients as a way to allocate digital assets through regulated brokerage accounts. On August 18, Citi announced that its Custody+ platform will begin custodying Bitcoin for institutional clients this year. According to Sigel's tally, Citi will become the 6th among the 29 globally systemically important banks to have launched or announced institutional Bitcoin custody services; previously, BNY, Standard Chartered, Societe Generale, State Street, and Deutsche Bank had done so.