Overview
- PNC went live Dec. 9 with buy, sell and hold functionality for spot bitcoin inside its PNC Private Bank Online platform via the Portfolio View interface.
- Coinbase’s Crypto-as-a-Service handles custody, trade execution and compliance, while PNC retains the client relationship and avoids direct crypto asset exposure.
- The rollout is limited to eligible high- and ultra-high-net-worth private-bank clients and supports only bitcoin at launch, with PNC stating it plans phased expansion.
- Industry consultants describe the move as a step toward mainstream banking adoption of digital assets, with expectations for broader bank rollouts and regulatory clarity.
- Some coverage highlights current constraints such as limited ability to transfer assets on-chain or to self-custody, and Coinbase shares rose following the announcement.