PNC Bank has introduced a new feature that lets eligible clients buy, sell, and hold bitcoin directly inside their regular bank accounts. This makes PNC the first major U.S. bank to offer spot bitcoin trading without needing a separate exchange.

The feature works through a partnership with Coinbase, one of the largest digital asset companies in the world. Coinbase provides the technology and security behind the scenes so customers can trade bitcoin safely through PNC’s own banking platform.

This partnership has been in development for years. PNC and Coinbase began working together in 2021 and officially announced their plan in July 2025. Now, with the launch complete, the move is seen as a big step in connecting traditional banking with the digital asset world.

With this update, eligible PNC Private Bank clients can manage bitcoin the same way they manage other assets in their accounts. They don’t need to create a Coinbase account or move money to an exchange; everything stays inside PNC’s system.

Right now, the service only supports bitcoin, but PNC and Coinbase both say more features and access could be added later. The goal is to introduce digital assets slowly and safely.

PNC CEO William Demchak said the bank wants to offer “secure and well-designed options that fit within the broader context of their financial lives” for clients, as interest in digital assets grows. He said clients can trade bitcoin in “a controlled and familiar environment,” meaning they can use tools they already know and trust.

Coinbase leaders also highlighted the importance of the partnership. Brett Tejpaul, co-CEO of Coinbase Institutional, said:

He added that PNC took a “thoughtful, disciplined approach” to introducing direct bitcoin access to clients. Coinbase CEO Brian Armstrong added, “PNC Private Bank clients can now buy, sell, and hold bitcoin in their existing accounts. PNC is the first major US bank to support this type of offering.”

For now, the new direct spot bitcoin trading feature is accessible to eligible clients of PNC Private Bank — specifically its high-net-worth and ultra-high-net-worth clients, including:

The bank plans to expand its bitcoin services in phases, eventually opening access to more types of clients, including nonprofits and large institutional investors.

PNC is one of the top ten banks in the United States, with more than 2,300 branches and over $500 billion in assets. Because of its size and reputation, its move into bitcoin trading is considered an important moment for both the banking industry and Bitcoin.

Other major banks are also starting to offer digital-asset-related services, but most are focusing on bitcoin ETFs rather than direct bitcoin trading. Bank of America recently said its wealth advisors can recommend bitcoin ETFs with allocations between 1% and 4%. JPMorgan also allows certain clients to use bitcoin ETFs as loan collateral.