PNC First Major Bank to Launch Direct Bitcoin Access for Clients, Powered by Coinbase's Crypto-as-a-Service Infrastructure

Rhea-AI Summary

PNC (PNC) on Dec 9, 2025 launched direct spot bitcoin trading for eligible PNC Private Bank clients, becoming the first major U.S. bank to offer this capability to that client segment. The service is integrated into PNC Private Bank Online via Portfolio View and is powered by Coinbase Crypto-as-a-Service (CaaS) for trading, custody and financing. Initial access is limited to eligible high‑ and ultra‑high‑net‑worth clients across PNC’s Private Bank network; PNC plans expanded access and enhanced features in future phases.

Positive

• First major U.S. bank offering direct spot bitcoin to private bank clients
• Integrated into PNC Private Bank Online Portfolio View for consolidated account oversight
• Powered by Coinbase Crypto-as-a-Service institutional trading, custody and financing
• Planned phased expansion to additional client segments and features

Negative

• Initial rollout limited to eligible private bank clients, restricting immediate scale
• No fees, transaction volume or revenue impact disclosed for the offering

Key Figures

Current price $197.65 Pre-news trading level

52-week range $145.12 – $210.825 52-week low and high before this news

Market cap $77,592,471,115 Equity value before crypto announcement

Volume today 2,241,893 shares Compared with 20-day average of 1,845,973

PNC Private Bank offices More than 100 High- and ultra-high-net-worth coverage footprint

Market Reality Check

$206.97 Last Close

Volume Volume 2,241,893 is above the 20-day average of 1,845,973 (relative volume 1.21). normal

Technical Price 197.65 is above the 200-day MA of 183.84 and about 6.25% below the 52-week high of 210.825.

Peers on Argus

PNC slipped -0.11% while key peers showed mixed, mostly small moves (e.g., USB +0.06%, ITUB -1.56%, NU -1.48%), suggesting today’s crypto-access announcement is more stock-specific than sector-driven.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 05	Earnings call setup	Neutral	-0.2%	Announced timing and access details for Q4 and full-year 2025 results call.
Nov 25	Conference appearance	Neutral	+2.2%	Executives to discuss business performance and strategy at Goldman Sachs conference.
Nov 24	Brand index release	Neutral	+0.8%	Published 2025 Christmas Price Index highlighting cost trends for holiday gifts.
Nov 10	Product partnership	Positive	+0.5%	Teamed with Extend to add virtual commercial card capabilities for business clients.
Nov 07	Branch expansion plan	Positive	+0.7%	Raised branch expansion plan to 300+ new locations and ~$2B investment by 2030.

Pattern Detected

Recent news tied to strategy, partnerships, and branch expansion generally coincided with modest positive price reactions, while scheduling or informational items produced small moves in either direction.

Recent Company History

Over the past months, PNC has focused on communication, product innovation and physical expansion. A conference call announcement for Q4 and full-year 2025 on Dec 05, 2025 and a Goldman Sachs conference appearance set the stage for strategy updates. Branded content like the Christmas Price Index drew moderate interest. Operationally, PNC added modern commercial card capabilities via Extend and committed to more than 300 new branches by 2030, with about $2 billion of planned investment. Today’s bitcoin-trading launch continues this pattern of digital and service expansion.

Market Pulse Summary

This announcement adds direct spot bitcoin trading and custody to PNC Private Bank’s offering, using Coinbase’s Crypto-as-a-Service infrastructure so eligible clients can buy, hold and sell bitcoin within PNC’s own platform. It follows recent steps such as digital card partnerships and branch expansion, reinforcing a focus on both physical and digital growth. Investors may track client uptake, planned expansion to additional segments, and how this crypto feature integrates with existing wealth-management services over time.

Key Terms

spot bitcoin financial

"launch of direct spot bitcoin trading capabilities for eligible clients"

Spot bitcoin is the purchase or sale of actual bitcoin for immediate delivery at the current market price, like buying an apple at a market and taking it home right away. It matters to investors because it gives direct exposure to bitcoin’s real-time price moves and requires managing custody and security risks, unlike derivative contracts that settle later or track price without delivering the asset.

crypto-as-a-service technical

"Powered by Coinbase's Crypto-as-a-Service ("CaaS") market leading infrastructure"

Crypto-as-a-service is a package of ready-made digital currency tools and infrastructure that lets businesses add cryptocurrency features—like wallets, payments, token issuance, and custody—without building the technology themselves. For investors, it matters because it can speed a company's move into the crypto market, lower technical risk and upfront costs, and provide a clearer path to new revenue streams or regulatory exposure—much like leasing a storefront instead of constructing one from scratch.

digital asset financial

"innovative digital asset solutions to PNC's private banking clients"

A digital asset is a representation of value or rights that exists only in electronic form—like digital versions of cash, stocks, or collectibles kept in a virtual wallet. They are transferred and recorded using computer systems that make copying or tampering difficult, and can include currencies, tokenized shares, or unique digital items. Investors care because digital assets can offer new ways to diversify, trade and raise capital, but they also bring different risks around price swings, custody and regulation.

custody financial

"access crypto custody capabilities to directly buy, hold and sell bitcoin"

Custody is the safekeeping and management of financial assets, such as stocks or bonds, by a specialized institution on behalf of an investor. It ensures that the assets are securely stored, properly maintained, and accurately accounted for, similar to how a bank safely holds valuables for a customer. This arrangement gives investors confidence that their assets are protected and properly managed, allowing them to focus on their investment goals.

institutional-grade technical

"Coinbase's institutional-grade CaaS infrastructure within the PNC Private Bank Online platform"

Institutional-grade describes products, services, or infrastructure built to meet the needs and standards of large professional investors and organizations, emphasizing security, reliability, scalability, and regulatory compliance. For investors it signals lower operational risk and higher capacity to handle big trades or data flows—like choosing a bank vault instead of a home safe—so institutional-grade offerings affect trust, cost and suitability for large or sophisticated portfolios.

AI-generated analysis. Not financial advice.

Strategic Partnership Empowers PNC Private Bank Clients with Bitcoin Trading

PITTSBURGH, Dec. 9, 2025 /PRNewswire/ -- PNC Bank today announced the launch of direct spot bitcoin trading capabilities for eligible clients of PNC Private Bank®, making PNC the first to market with such an offering among the major U.S. banks. Powered by Coinbase's Crypto-as-a-Service ("CaaS") market leading infrastructure, PNC has enabled clients to buy, hold and sell bitcoin directly through PNC's own digital banking platform.

The launch marks a key milestone in PNC's strategic partnership with Coinbase, announced in July, to provide trusted, secure and innovative digital asset solutions to PNC's private banking clients.

The first generation of PNC's new "crypto for clients" solution integrates Coinbase's institutional-grade CaaS infrastructure within the PNC Private Bank Online platform. Through Portfolio View, eligible clients can now access crypto custody capabilities to directly buy, hold and sell bitcoin. With more than 100 offices and serving high- and ultra-high-net worth clients, PNC Private Bank is positioned to offer its client base access to the digital asset economy.

Coinbase's Crypto-as-a-Service infrastructure provides PNC with industry-leading solutions for trading, custody and financing, —empowering PNC to advance its crypto business and positioning it as a leader among major banks. Through this partnership, PNC Private Bank clients can now directly buy, sell and securely hold bitcoin through PNC's own digital banking platform, making it easier and safer for them to participate in the crypto market. By integrating these capabilities, PNC Private Bank clients benefit from the convenience of trading and securely storing bitcoin, with the added advantage of having all of their accounts and activities on a single, streamlined platform for greater oversight and simplicity.

"As client interest in digital assets continues to grow, our responsibility is to offer secure and well-designed options that fit within the broader context of their financial lives," said William S. Demchak, chairman and chief executive officer of PNC. "Our work with Coinbase allows us to provide clients with access to bitcoin trading in a controlled and familiar environment, consistent with the standards they expect from PNC."

"This collaboration demonstrates how traditional financial institutions and on chain-native companies can work together to expand access to digital assets in a safe and compliant way," said Brett Tejpaul, co-CEO of Coinbase Institutional. "PNC has taken a thoughtful, disciplined approach, and we're pleased to support their efforts with our secure and institutional-grade infrastructure trusted by institutions around the world."

PNC plans to expand access to additional client segments and introduce enhanced features and services in future phases of the offering.

PNC Private Bank is dedicated to serving high-net-worth and ultra-high-net-worth individuals, families, family offices, and business owners. It provides personalized financial strategies, investment management, banking and lending services, and estate planning tailored to complex financial needs. For more information about PNC Private Bank, visit pnc.com/privatebank.

About Coinbase

Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We're updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.

About PNC Bank

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACTS
PNC		COINBASE
Anne Pace		press@coinbase.com
(631) 338-3268
anne.pace@pnc.com

 

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SOURCE PNC Bank

FAQ

What did PNC announce on Dec 9, 2025 about bitcoin access for clients?

PNC announced direct spot bitcoin trading for eligible PNC Private Bank clients, integrated into PNC Private Bank Online and powered by Coinbase CaaS.

Which PNC clients can access bitcoin trading via PNC Private Bank Online (PNC)?

Access is available to eligible high‑ and ultra‑high‑net‑worth clients of PNC Private Bank through Portfolio View.

How is PNC enabling custody and trading for bitcoin (PNC)?

PNC is using Coinbase Crypto‑as‑a‑Service infrastructure to provide institutional trading, custody and financing capabilities.

Will PNC expand bitcoin access beyond Private Bank customers and when?

PNC said it plans to expand access to additional client segments and add enhanced features in future phases, without a specific timeline.

Does PNC’s announcement change where clients hold bitcoin and view accounts (PNC)?

Yes; eligible clients can buy, hold and sell bitcoin directly through PNC’s digital banking platform for consolidated oversight.

Does the press release disclose fees or expected revenue impact for PNC’s bitcoin offering?

No; the announcement does not disclose fees, transaction volumes, or revenue guidance related to the offering.