Leggi questo articolo in Italiano Italiano

2 min read 15 Feb 2025

State Street and crypto custody from 2026: The giants are coming

By Daniele Corno

Wall Street and crypto have never been so close: State Street ready to offer crypto custody services by 2026

State Street and crypto custody from 2026: The giants are coming

Custody services for a new Big Player

The Wall Street giant “State Street” plans to offer custody services for Bitcoin and crypto-assets by 2024.

A change that now, more than ever, brings the big US banks closer to the crypto sector, in one of the most important transition periods for the entire sector.

This change was made possible after the SEC canceled the SAB 121 (Staff Accounting Bulletin No. 121) regulation. This regulation required banks to consider crypto-assets as liabilities in their financial statements, forcing them to include a dollar value equal to the amount of crypto-assets held in their balance sheets.

Banks such as Jp Morgan and State Street (BNY Mellon was excluded) had to give up custody services as they were extremely expensive, as they could not compete with exchange platforms such as Coinbase and Binance which were exempt from this regulation.

Now, according to the first information shared by TheInformation, the bank would like to offer custody services for crypto-assets and tokenized assets (RWA). A real change of narrative, expected by 2026.

State Street's numbers

Among the largest global institutions, State Street is one of the largest global money managers.

According to the Financial Times in January 2025, the bank, through its subsidiary State Street Global Advisors (SSGA), manages AUM (Assets under management) equal to $4,700 billion dollars and is ranked fourth globally.

It is preceded only by BlackRock, Vanguard and Fidelity, with respective AUM of $11,600, $8,600 and $4,900 billion dollars.

The picture changes, however, when considering the value of AUC/A (Asset Under Custody/Administration), i.e. the amount of money in custody.

In fact, State Street holds the second position in the market, preceded by BNY Mellon and ahead of JP Morgan, with an AUC/A value of $46,800 billion dollars. The first and third positions are worth $52,100 and $32,000 billion respectively.

X

Vuoi essere IL PRIMO a conoscere ciò che muove il mercato?

Resta aggiornato in tempo reale con le notizie importanti, dati e analisi ESCLUSIVE

bitcoin
Bitcoin (BTC) $ 108,020.94
ethereum
Ethereum (ETH) $ 2,491.59
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.20
bnb
BNB (BNB) $ 652.47
solana
Solana (SOL) $ 146.36
usd-coin
USDC (USDC) $ 1.00
tron
TRON (TRX) $ 0.283466
dogecoin
Dogecoin (DOGE) $ 0.162611
staked-ether
Lido Staked Ether (STETH) $ 2,491.66
cardano
Cardano (ADA) $ 0.571081
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 108,025.94
hyperliquid
Hyperliquid (HYPE) $ 38.35
wrapped-steth
Wrapped stETH (WSTETH) $ 3,009.50
sui
Sui (SUI) $ 2.86
bitcoin-cash
Bitcoin Cash (BCH) $ 485.46
chainlink
Chainlink (LINK) $ 13.01
leo-token
LEO Token (LEO) $ 9.04
avalanche-2
Avalanche (AVAX) $ 17.65
usds
USDS (USDS) $ 1.00
stellar
Stellar (XLM) $ 0.235329
the-open-network
Toncoin (TON) $ 2.74
wrapped-eeth
Wrapped eETH (WEETH) $ 2,671.42
shiba-inu
Shiba Inu (SHIB) $ 0.000011
litecoin
Litecoin (LTC) $ 86.33
whitebit
WhiteBIT Coin (WBT) $ 45.28
weth
WETH (WETH) $ 2,491.97
hedera-hashgraph
Hedera (HBAR) $ 0.153067
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
monero
Monero (XMR) $ 313.81
ethena-usde
Ethena USDe (USDE) $ 1.00
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 108,032.95
bitget-token
Bitget Token (BGB) $ 4.38
polkadot
Polkadot (DOT) $ 3.31
uniswap
Uniswap (UNI) $ 6.88
aave
Aave (AAVE) $ 268.14
pepe
Pepe (PEPE) $ 0.000010
dai
Dai (DAI) $ 1.00
pi-network
Pi Network (PI) $ 0.457240
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.18
okb
OKB (OKB) $ 48.64
bittensor
Bittensor (TAO) $ 318.76
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
aptos
Aptos (APT) $ 4.37
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 177.68
near
NEAR Protocol (NEAR) $ 2.10
internet-computer
Internet Computer (ICP) $ 4.69
crypto-com-chain
Cronos (CRO) $ 0.080400
ethereum-classic
Ethereum Classic (ETC) $ 16.13
ondo-finance
Ondo (ONDO) $ 0.768137