CUSIP

A CUSIP (Committee on Uniform Securities Identification Procedures) is a unique identification number assigned to financial securities in the United States and Canada.

What is a CUSIP?

A CUSIP (Committee on Uniform Securities Identification Procedures) is a unique identification number assigned to financial securities in the United States and Canada.

It is used to clearly identify instruments such as stocks, bonds, and other marketable securities for trading, clearing, and settlement purposes. The system was created to standardize how securities are identified across financial markets and operational systems.

How does the CUSIP system work?

A CUSIP consists of nine characters:

  • The first six identify the issuer
  • The next two identify the specific security
  • The final character is a check digit used for error detection

Each CUSIP uniquely identifies a specific financial instrument, even if multiple securities are issued by the same entity.

How is CUSIP used in financial markets?

CUSIPs are used throughout traditional finance to:

  • Track securities during trading and settlement
  • Support clearing and custody operations
  • Enable accurate record-keeping and reporting
  • Identify securities in regulatory filings and disclosures

They are embedded across brokerage systems, exchanges, custodians, and data providers.

What types of securities have CUSIPs?

CUSIPs are assigned to a wide range of instruments, including:

  • Publicly traded equities
  • Corporate and government bonds
  • Municipal securities
  • Asset-backed and structured products
  • Certain investment funds

Each individual issuance receives its own identifier.

Is CUSIP relevant to crypto or digital assets?

CUSIPs are not used for native cryptocurrencies such as Bitcoin or Ether. However, they can apply to crypto-related securities, including:

  • Bitcoin and Ether exchange-traded funds (ETFs)
  • Public company shares linked to digital asset exposure
  • Structured products or notes referencing crypto prices

In these cases, the security (not the cryptocurrency itself) receives a CUSIP.

What are noteworthy examples of CUSIP usage in crypto-related markets?

  • Spot Bitcoin ETFs listed on U.S. exchanges each carry distinct CUSIP numbers
  • Crypto-linked exchange-traded notes (ETNs) and structured products
  • Public companies holding digital assets whose shares are identified by CUSIPs