VanEck executives say Citigroup plans to launch institutional Bitcoin custody service.

Matthew Sigel, Head of Digital Asset Research at VanEck, stated that Citibank Wealth released a report recommending spot BTC and ETH ETFs to its clients. Citibank also announced on August 18th that its Custody+ platform will begin allowing institutional clients to hold Bitcoin this year. Sigel noted that Citibank will become the 6th of 29 globally systemically important banks to launch or announce institutional Bitcoin custody services, the other five being BNY, Standard Chartered, Société Générale, State Street, and Deutsche Bank.