The real change is happening

[peter0425]

US Bancorp has reentered the crypto space by relaunching its digital asset custody services aimed at institutional investment managers. This shows the importance of an administration that is ready to accept cryptocurrencies wholeheartedly. Many corporations will be now free to hold crypto and even offer services related to that. This will continue to lead to a mass adoption very quickly.

The Minneapolis-based bank, the fifth-largest commercial bank in the US, first launched its custody service in 2021 in partnership with fintech firm NYDIG, before it was paused due to the SEC guidance. With the rule rescinded, US Bancorp is proceeding with a renewed push.

[Wiwo]

Institutional investor benefits from the cryptocurrency market with their various reserves and portfolio's in Bitcoin and other cryptocurrency assets, so for me, I don't get excited that much when I read things as regards to institutional players coming into to the cryptocurrency space, after all their decisions will only have effect on their companies reserve, and it have nothing to do with with the crypto community.

The point of interest in this is where you mentioned that some of those institutional investors are willing to render cryptocurrency-related services and implement them into their payment systems. This indeed is what we have been expecting and will really increase Bitcoin and crypto mainstream adoption.

[Churchillvv]

Yeah! We now have a crypto friendly president (Not bitcoin precisely) who is also interested in making a quick profit from crypto generally so every institution which once had a relationship with crypto & Bitcoin will now renewed their stands with it.

It’s not a great news to me but might be a good news for some especially those interested in institutional investment for bitcoin and crypto at large whereas they basically have nothing for bitcoin or crypto community than to grab a quick profit in the main time.

[passwordnow]

That's good for the sake of adoption and to make those no coiners get into crypto. But if this is specifically as a custodial service, I won't use it. Even if I am not from that place and won't be able to use it, I'd definitely not going to allow a bank to keep my crypto. So, for the adoption matters this is good to attract those who are scared of entering the crypto market on their own. It's for them to learn how to get around with it and soon, they'll learn why many understands that it's best to keep their own crypto and why we say, 'not your keys, not your coins'.

[Cryptohygenic]

Institutional investor benefits from the cryptocurrency market with their various reserves and portfolio's in Bitcoin and other cryptocurrency assets, so for me, I don't get excited that much when I read things as regards to institutional players coming into to the cryptocurrency space, after all their decisions will only have effect on their companies reserve, and it have nothing to do with with the crypto community.

The point of interest in this is where you mentioned that some of those institutional investors are willing to render cryptocurrency related services and implementing them into their payments system, this indeed is what we have being expecting and really will increase Bitcoin and crypto mainstream adoption.

I understand your point is that bitcoin market is decentlized and each and every users of it investing has best outcome or goal of their own interests and not to the communities because ideally as a decentlized market, everyone is running their worn race but if we have to think otherwise, everyone's owning portfolios matters in the blockchain especially those institution investors because, their value of portfolios is potential to drive the price or cause market manipulation. So, investor may need them much as we know more adoptors to invest on bitcoin would give the volatilities the potential edge to attain valuable price increase whereas, holders can also earn profits.
I may really not be our (others) business but based on volatility concepts and probabilities of enhancing the cryptography we need each others hand on deck to facilitate the success of achieving our goals.

[adaseb]

I think that many of these companies and institutions wanted to get into digital assets years ago but they didn’t due to regulations. They didn’t want to deal with non compliance with the democratic admistration and SEC head Gensler which was very anti crypto.

But with Trump in office they know he is pro bitcoin and they got less hurdles to jump thru. Basically they get involved in anything as long as they can turn a profit. So it’s no surprise we are seeing more and more of this.

[dzungmobile]

I think that many of these companies and institutions wanted to get into digital assets years ago but they didn’t due to regulations. They didn’t want to deal with non compliance with the democratic admistration and SEC head Gensler which was very anti crypto.

But with Trump in office they know he is pro bitcoin and they got less hurdles to jump thru. Basically they get involved in anything as long as they can turn a profit. So it’s no surprise we are seeing more and more of this.

The first Bitcoin Spot ETF application was submitted in 2013 and it's about 10 years before first Bitcoin Spot ETF approvals announced in January 2024. One year before that, Grayscale won a lawsuit against SEC that opened a bigger gate to Bitcoin Spot ETF approvals and BlackRock smelt that great opportunity, then took advantage of it to submit their Bitcoin Spot ETFs.

The remaining things are famous, BlackRock enriched their successful rate of their Spot ETF applications and Bitcoin community and market have first ever Bitcoin Spot ETFs in the USA.

Gates have been unlocked gradually over time, from first physical peer to peer trade (bitcoins for pizzas), first centralized exchange, first Bitcoin Futures, and first Bitcoin Spot ETFs. We will witness more Bitcoin adoption growth in the future, I am strongly believe in Bitcoin's bullish future.

[TastyChillySauce00]

This shows the importance of an administration that is ready to accept cryptocurrencies wholeheartedly.

I agree and I think it's just the start. Everybody was held back due to unclear regulation. Now it's becoming clearer and clearer. This motivate corporation to do business in crypto because those trillion dollar market cap is too good to be ignored.
I bet those companies that were held back now already trying to get involved into crypto again. Even Meta is trying to get back to crypto now although solely focusing on stablecoin.

[Iranus]

It’s not a great news to me but might be a good news for some especially those interested in institutional investment for bitcoin and crypto at large whereas they basically have nothing for bitcoin or crypto community than to grab a quick profit in the main time.

I also find this news not remarkable or interesting because after all, they do it for their own benefit and not for anyone else. But are we any different? Aren't we also in it for profit? What have we done for bitcoin and the crypto community? We are all the same, all for our own benefit and not for the community.

I believe that if bitcoin does not bring high returns, it does not give us the opportunity to get rich. There is also no one who will stay here and continue to protect it at all costs.

[GreatArkansas]

This is not new anymore. Just look at how the Bitcoin ETF did. Even some people are against ETFs, but it's already here, and we can't avoid it anymore.
But for me, everything this news is are good effect for Bitcoin, especially in the community, more people will get introduced to Bitcoin.

But I am just curious  about how these can affect the volatility we have on Bitcoin.

[TheUltraElite]

News is good, I just hope this has some positive outcomes in adoption and use of crypto, not just that big institutions are going to bag hold or use the excuse of the bull market to make some money.

More companies dealing with businesses using bitcoin is better for the market price of bitcoin.

Curenrtly the president of USA is supportive but their family also has their own morives of making money.

[traderethereum]

That should give more positive news to Bitcoin because support from US Bancorp can make other companies open their eyes to see the benefits of Bitcoin to them. This will also make people curious and join Bitcoin if they find the advantages of Bitcoin to them. So that will be a matter of time for Bitcoin to grow because the adoption process still going on.

People will see how big the chance for them to make a profit in the future. So that will give people confidence to invest in Bitcoin and hodl it for long term. The best is small people can also invest in Bitcoin because Bitcoin is for all people.

[Accardo]

Gary Gensler was never the guy for crypto, you could imagine a whole room exploded the day Trump announced he's saked. The rule he made in 2022 that banks must hold capitals on balance sheet for crypto related assets, got out most banks from participating in crypto custody service. While it's all nice to see them back after the slight change on the rule,  the crypto market is shifting fully into the central body, banks will now hold crypto, including the private keys. It's finished.

[Don Pedro Dinero]

News is good, I just hope this has some positive outcomes in adoption and use of crypto, not just that big institutions are going to bag hold or use the excuse of the bull market to make some money.

Well, I don't know how you can see it that way. Bank custody services are not going to help usage at all. As the news article says, it is aimed at institutional investment managers. In other words, managers are going to buy large amounts of bitcoin and simply deposit them in the bank as an investment. To make money. In other words, the opposite of what you are suggesting.

[Publictalk792]

Institutional investor benefits from the cryptocurrency market with their various reserves and portfolio's in Bitcoin and other cryptocurrency assets, so for me, I don't get excited that much when I read things as regards to institutional players coming into to the cryptocurrency space, after all their decisions will only have effect on their companies reserve, and it have nothing to do with with the crypto community.

The point of interest in this is where you mentioned that some of those institutional investors are willing to render cryptocurrency-related services and implement them into their payment systems. This indeed is what we have been expecting and will really increase Bitcoin and crypto mainstream adoption.

Yes when company buys Bitcoin for its own account it is not big deal for most people. It is just business making investment.
Real change comes when companies start using crypto to offer services or add it to their payment systems. This is what will make crypto normal part of daily life and help more people use it. And with this crypto can grow well and it will become value able asset for daily life.

[pooya87]

digital asset custody services

This will continue to lead to a mass adoption very quickly.

Can this even be referred to as bitcoin adoption? I don't think so because when you buy bitcoin yourself and own your keys, you are adopting bitcoin. But when you pay some company or a corrupt bankster that tells you they buy bitcoin in your stead, then you are not adopting bitcoin. You are instead adopting that centralized and corrupt system that may not even have as much bitcoin as they tell you they have!

[Darker45]

Is this the real change? Is it not possible that the Trump family only supported Bitcoin, first, for him to win and, second, for them to get even richer? Or how do you measure real change? Do sustainability, institutionalization, behavioral change on the ground, and the like important factors without which changes remain merely superficial? If the president that follows Trump turns everything about Bitcoin and crypto around when he/she assumes office, can we still consider what's happening today as the real change?

And, as pooya87 pointed out, how is it real change when it's institutions that are traditionalizing Bitcoin and not Bitcoin making them abandon their traditional way of doing things?

[Marvell1]

Gary Gensler was never the guy for crypto, you could imagine a whole room exploded the day Trump announced he's saked. The rule he made in 2022 that banks must hold capitals on balance sheet for crypto related assets, got out most banks from participating in crypto custody service. While it's all nice to see them back after the slight change on the rule,  the crypto market is shifting fully into the central body, banks will now hold crypto, including the private keys. It's finished.

Gary or the Biden administration are not crypto friendly but at least they approve Bitcoin ETFs. So it can be said that they also have significant contributions to the development of the crypto industry. Also, don't be so quick to thank and praise Trump for supporting crypto when he cares more about personal gain than the future of the industry.

Before, he used crypto to get more votes and now look what he is doing with crypto. His family is manipulating the entire market, abusing their power to make blatant money by creating shitcoins like TRUMP, MELANIA, and now WLFI. According to multiple reports, his family has made over $5 billion since entering the cryptocurrency market. He is really friendly and interested in crypto, and is he doing it for the future of crypto or for the future of his family?

[Accardo]

Before, he used crypto to get more votes and now look what he is doing with crypto. His family is manipulating the entire market, abusing their power to make blatant money by creating shitcoins like TRUMP, MELANIA, and now WLFI. According to multiple reports, his family has made over $5 billion since entering the cryptocurrency market. He is really friendly and interested in crypto, and is he doing it for the future of crypto or for the future of his family?

Trump began following crypto after his first tenure, his four years break had him some time to venture into the industry. It's open source anybody's contribution is welcomed, unless his family has bad intention afterwards maybe a rug pull, I don't see anything wrong with Baron testing the market with the family wealth. In an interview Trump already said he's not fully involved, that his family are the ones running the coins on their names. Presumably, he said so to take off the constant questions from press regarding him and the market.

[Catenaccio]

digital asset custody services

With Bitcoin, going with non-custodial or self-custodial to stick with Satoshi Nakamoto's vision.

This will continue to lead to a mass adoption very quickly.

It's part of Bitcoin adoption but it is not what Satoshi Nakamoto created Bitcoin for. Business companies saw Bitcoin potential as well as threats for their business and they knew that they only can join the Bitcoin party, but they want to control it somewhat, so custodial services created.

Can this even be referred to as bitcoin adoption? I don't think so because when you buy bitcoin yourself and own your keys, you are adopting bitcoin. But when you pay some company or a corrupt bankster that tells you they buy bitcoin in your stead, then you are not adopting bitcoin. You are instead adopting that centralized and corrupt system that may not even have as much bitcoin as they tell you they have!

People have options: self-custodial or custodial, and they can make decision. Careful and knowledgeable people will surely choose self-custodial as they are aware of risk of custodians from banks, business to Bitcoin-related services. Self-custodial wallets are free to access, use, and full control so it's effortless to use non-custodial wallets and have as well as control your own Bitcoin banks.