PNC Bank has made a pioneering move by introducing direct spot Bitcoin trading for eligible private bank clients, becoming the first major U.S. bank to enable buying, holding, and selling Bitcoin directly within its own digital platform. This milestone is part of the initial launch phase of PNC’s partnership with Coinbase, leveraging Coinbase’s Crypto-as-a-Service trading and custody technology.
Serving high- and ultra-high-net-worth individuals, families, family offices, and business owners, PNC Private Bank aims to extend this access to more client groups and incorporate additional features over time. As the eighth-largest commercial bank in the U.S., with roughly $564 billion in assets and over 2,300 branches nationwide, PNC’s integration signals a significant step toward mainstream adoption of cryptocurrencies within traditional banking.
While many leading U.S. banks have explored crypto offerings primarily through custody services or investment products like ETFs, PNC’s direct trading solution marks a notable evolution. For example, Bank of America recently announced plans to provide wealth management clients access to multiple Bitcoin ETFs, allowing exposure without direct asset ownership.
This move aligns with a broader trend as wealthy investors increasingly seek crypto exposure. Institutions like JPMorgan and Binance are expanding crypto-related services tailored to high-net-worth clients, while regional trends demonstrate growing cryptocurrency allocations in Asia.
PNC’s bold integration reflects the rising demand for cryptocurrency solutions among affluent clients and positions the bank at the forefront of bridging traditional finance with the digital asset economy.
Read more at: https://cointelegraph.com/news/pnc-bitcoin-trading-bank-coinbase