According to @jayantramanand, in 2019 regulated funds struggled to meet custody requirements for on-chain assets under traditional rules, and by 2021 he helped structure a staking fund on a 2-and-20 model because institutions needed help accessing crypto yields amid complex infrastructure. Source: @jayantramanand on X, Nov 11, 2025. He states that by 2025 institutions directly self-custody crypto and major banks offer crypto custody, with a transition that took a decade in online stock trading occurring in crypto within five years. Source: @jayantramanand on X, Nov 11, 2025. He adds that the top 10 asset managers now control 34% of global AUM, up from 26% twenty years ago, highlighting accelerating consolidation that can trap strong managers geographically. Source: @jayantramanand on X, Nov 11, 2025. He cites a credit fund manager with consistent 18% returns who cannot serve clients outside their home market without heavy infrastructure spend, framing the constraint as distribution pipes rather than performance. Source: @jayantramanand on X, Nov 11, 2025. He proposes tokenizing fund expertise so the same strategies, under the same compliance, become globally accessible with minimums dropping from $100k to $1k and the ability to serve markets like Singapore from Mumbai without opening offices. Source: @jayantramanand on X, Nov 11, 2025. He concludes that institutional-grade blockchain rails now exist to make any fund globally accessible, and the remaining gap is whether mindsets evolve as fast as the technology. Source: @jayantramanand on X, Nov 11, 2025.

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.