Deutsche Bank Launched Crypto Custody With Bitcoin and Ethereum but Not XRP or Solana. Why Were They Left Out? - 24/7 Wall St.

Deutsche Bank officially opened its doors to institutional crypto assets on November 11, 2026. The bank announced it will hold the private keys for five digital assets on behalf of corporate and institutional clients.

The initial lineup includes Bitcoin, Ethereum, and three stablecoins: USDC, EURC, and EURAU. The bank’s custody page confirms these five assets, while XRP and Solana are conspicuously absent from the launch.

The launch comes as part of a broader trend among major financial institutions to cautiously enter the digital asset space. Custody banks have followed a similar pattern, starting with the two largest cryptocurrencies before expanding their offerings.

Bitcoin and Ethereum were trading lower on the day of the announcement, with Bitcoin down 3% to $71,297 and Ethereum down 2.7% to $1,998. XRP and Solana were also down, trading at $1.02 and $81, respectively.

Michael Saylor, a prominent Bitcoin advocate, posted “Deutsche ₿ank” on X to support the launch. The bank’s entry into the market was also linked to a regulatory process, with its listing in the EU’s MiCA register dated October 12.

Client Demand and Regulatory Processes

Deutsche Bank’s announcement stated that the range of supported assets “may be expanded over time, subject to client demand and the bank’s product-approval, risk management and regulatory processes.” The bank gave no other reason for excluding XRP or Solana.

The bank’s global head of trust and securities services, Paul Maley, said the medium-term goal is a fully integrated, regulated ecosystem supporting the custody, tokenization and settlement of digital assets. That vision doesn't commit the bank to using Bitcoin, Ethereum, or any other cryptocurrency for payments.

The timing of the launch was linked to the regulatory process, with Germany’s BaFin named as its regulator. The service is available in Germany, with cross-border servicing across Europe. Eligible clients include institutional investors, multinational companies, governments and wealth managers.

Stablecoins and Corporate Ties

One of the five assets on the list, EURAU, has a direct tie to the bank. Its issuer, AllUnity, is a joint venture between DWS, Flow Traders and Galaxy, and DWS is the bank’s majority-owned asset manager.

Deutsche Bank has also signed a memorandum of understanding with DWS to explore tokenized money market funds, crypto-asset exchange-traded commodities and stablecoins. This explains why one of the five slots went to a coin from the bank’s own family of companies.

The bank’s custody service covers custody and transfers, but not trading, and Deutsche Bank has yet to disclose its first clients or pricing. The service is accessible via Autobahn, the bank’s corporate platform.

Rival Banks and Market Trends

Several large institutions already handle XRP and Solana or plan to. Itaú Unibanco registered with Brazil’s central bank on October 27 to trade and custody 15 digital assets, including XRP and Solana.

Charles Schwab announced plans in October to add Solana, Avalanche and Chainlink alongside Bitcoin and Ethereum by the end of 2026. Schwab’s rollout mirrors Deutsche Bank’s, starting with the two largest cryptocurrencies and adding more later.

Size probably plays a part in that order. Bitcoin holds the top spot by market value, followed by Ethereum, while XRP and Solana rank sixth and seventh. Deutsche Bank prioritized the assets that pension funds and corporate treasurers ask for first.

EU regulations don't explain the exclusion either. MiCA sorts cryptocurrencies into asset-referenced tokens, e-money tokens and other crypto-assets. By our reading, Bitcoin, Ethereum, XRP and Solana all fall into the last category, so EU law treats the four alike.

A custody listing earns the bank a fee but gives a coin no guaranteed buyer, because custodians hold what clients have already bought. Until Deutsche Bank names XRP or Solana as a settlement asset, the bank probably isn't a reason for either coin's price to rise.

If either coin appears on the custody page, or the bank names one as a settlement asset, the exclusion ends. The bank’s planned expansion into Asian financial centers in 2027 could be the next point where the list changes.