According to the source, CNBC reported that Citi plans to launch crypto custody services in 2026, adding a major global bank to regulated digital asset safekeeping, source: CNBC. This follows BNY Mellon’s 2022 rollout of custody for Bitcoin (BTC) and Ethereum (ETH), which established a bank-grade operating model for institutional clients, source: BNY Mellon press release. U.S. national banks have regulatory clarity to provide crypto custody under Interpretive Letter 1170, which outlines how banks can safekeep digital assets, source: Office of the Comptroller of the Currency. For traders, additional bank custodians can broaden access for institutional mandates that require regulated custody and support product pipelines that rely on qualified custodians, with spot Bitcoin ETF approvals in 2024 underscoring mainstream integration of crypto into regulated markets, source: U.S. Securities and Exchange Commission.

According to the source, CNBC reports Citi plans to launch crypto custody services in 2026, source: CNBC. This would add another major bank to institutional digital asset infrastructure alongside BNY Mellon, which began offering digital asset custody to select clients in 2021, source: BNY Mellon press release (Feb 2021). Traders should monitor regulatory approvals, supported asset scope, and client onboarding timelines because prior bank custody launches required regulator consent such as NYDFS oversight and defined which institutions could use qualified custodians, source: BNY Mellon press release (Feb 2021). Competitive implications extend to crypto-exposed equities and liquidity tracking BTC and ETH, as Coinbase currently serves as custodian for the iShares Bitcoin Trust (IBIT), making custody market share sensitive to new bank entrants, source: BlackRock iShares Bitcoin Trust prospectus.