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PNC Bank and German Sparkassen embrace Bitcoin—but without FDIC protections

Big banks are betting on Bitcoin, but your money won’t be as safe. PNC’s elite clients can trade now—while Germany’s savings banks prepare for 2026.

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2 min read
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In this image we can see a chess board with chess coins. The background of the image is blur.

PNC Bank and German Sparkassen embrace Bitcoin—but without FDIC protections

Major banks are moving into Bitcoin services, but customers should be aware of the risks. PNC Bank has become the first large US bank to offer Bitcoin trading, while German savings banks plan to follow by 2026. These services, however, do not include the usual consumer protections that come with traditional banking products.

PNC Bank launched Bitcoin trading for high-net-worth clients in December. The service allows eligible customers to buy, sell, and hold Bitcoin through a partnership with Coinbase. Coinbase will also handle custody of the purchased Bitcoin, though PNC has not yet revealed the fees for this service.

The bank’s initial rollout targets private banking clients, but there are plans to expand access to more customers later. While this move could push cryptocurrency further into mainstream finance, PNC has made it clear that Bitcoin purchases through the bank are not covered by FDIC insurance. This means customers will not have the same protections as they would with traditional deposits.

Meanwhile, in Germany, several savings banks (Sparkassen) are preparing to offer Bitcoin purchases by 2026. Early crypto-related features, including exchange-traded funds (ETFs) linked to cryptocurrencies, are expected to arrive in early 2026, with full Bitcoin trading services following around mid-2026.

Separately, Sutor Bank has secured regulatory approval from BaFin under the EU’s MiCAR framework, announced on 19 December 2025. This allows the bank to provide crypto custody and trading services across the EU, with plans to go live in the first quarter of 2026. The expansion includes additional services such as eWpG custody, further broadening its crypto offerings.

The entry of major banks into Bitcoin trading signals growing acceptance of cryptocurrency in traditional finance. However, customers must understand that these services lack the safeguards of regular bank accounts. As more institutions like PNC and German Sparkassen introduce crypto options, the market could see wider adoption—but without the usual financial protections.

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