What is a qualified custodian for Bitcoin?

A qualified custodian is a regulated institution authorised to hold client assets, such as a bank, trust company, or broker-dealer. Many institutional investors are legally required to use one under securities regulations such as the SEC's Custody Rule.

How are custody fees typically structured?

Custody fees are usually charged as an annual basis-point fee on assets under custody (e.g. 0.05%–0.50% per year) or as a flat monthly fee. Some custodians offer tiered pricing that decreases as balances grow.

Get Started

Lenders Cards Custodians Exchanges Bitcoin ETFs Inheritance Treasury Companies

Bitcoin Custody Services

Q: Which Bitcoin custodians are qualified custodians?

Of the 23 custodians tracked on 21Rates, 16 are qualified custodians, including Anchorage Digital, BitGo, Bitcoin Suisse AG, Coinbase, Copper. Qualified status means the provider is a federally or state-chartered bank, trust company, or broker-dealer legally permitted to hold client assets.

Q: How much insurance do Bitcoin custodians carry?

Publicly disclosed coverage includes Crypto.com ($750M), Coinbase ($320M), BitGo ($250M), Gemini ($200M). Coverage terms vary by custodian; crime and specie policies cover different scenarios, so confirm directly what assets and events are covered.

Q: What does Bitcoin custody cost?

Institutional Bitcoin custody fees typically run 4 to 150 basis points annually (0.04% to 1.5%), depending on provider and assets under management. Some providers charge no separate custody fee and monetize through trading spreads instead. Enterprise pricing is often custom above certain AUM thresholds.

Compare qualified custodians, insurance coverage, fees, and minimum balances side by side.

23custodians16qualified5insured0.1%–1.5%fees

Featured Custodian

BitGoEst. 2013

BitGo is a leading digital asset custody and financial services company founded in 2013. With over $64 billion in assets under custody and serving 2,000+ institutional clients across 90+ countries, BitGo pioneered multi-signature technology and provides comprehensive digital asset infrastructure including qualified custody, wallet services, and trading solutions with regulatory compliance across multiple jurisdictions.

View Profile

Custodian↑	Qualified	Insurance	Fee↑	Min Balance↑	Cold Storage	Audit Freq.	Proof of Reserves	Custody Model
Anchorage DigitalEst. 2017	Yes	Lloyd's of London	Custom pricing	$500,000	95%+	Annual SOC	No	Hosted Custody
Anchorage Digital provides hosted custody services and a $500,000 minimum balance. Full profile
Bitcoin Suisse AGEst. 2013	Yes	Undisclosed	0.5-1.5%/yr	CHF 5,000	98%	Annual	No	Hosted Custody
Bitcoin Suisse AG provides hosted custody services and a CHF 5,000 minimum balance. Full profile
BitGoEst. 2013	Yes	$250M (Lloyd's)	0.04-0.15%/yr	$50,000	95%+	Annual SOC 2	No	Hosted Custody
BitGo is a multi-jurisdictional institutional Bitcoin custodian founded in 2013, widely credited with pioneering multi-signature cold storage for institutions. It holds 95%+ of assets in cold storage, carries $250M in crime insurance via Lloyd's of London, and operates under trust charters in South Dakota, New York, Germany (BaFin), and Singapore (MAS). Full profile
CasaEst. 2016	No	None (self-custody)	$30-$250/yr	None	100%	Open-source	No	Self-custody
Casa provides self-custody services. Full profile
CoinbaseEst. 2012	Yes	$320M	0.04-0.10%/yr	$1,000,000 for Prime Custody	98%	Annual SOC	No	Hosted Custody
Coinbase Custody is the largest US-regulated institutional Bitcoin custodian, operated by Coinbase (NASDAQ: COIN). It holds 98% of assets in cold storage, carries over $320M in commercial crime insurance, and is licensed as a limited purpose trust company by the NYDFS. As a publicly traded company, Coinbase undergoes SEC reporting and annual SOC 2 Type II audits. Full profile
CopperEst. 2018	Yes	Undisclosed	Custom pricing	Contact for requirements	100%	Annual SOC 2	No	Hosted Custody
Copper provides hosted custody services and a Contact for requirements minimum balance. Full profile
Crypto.comEst. 2016	Yes	$750M (Lloyd's)	No custody fee	None for standard accounts	100%	Annual SOC 2	Yes	Hosted Custody
Crypto.com provides hosted custody services and no minimum balance. Full profile
Fidelity DigitalEst. 2018	Yes	Undisclosed	0.05-0.40%/yr	$50,000	100%	Annual SOC 2	No	Hosted Custody
Fidelity Digital provides hosted custody services and a $50,000 minimum balance. Full profile
FireblocksEst. 2018	No	Up to $30M	$10K-$50K/yr	Based on platform tier	Configurable	Annual SOC 2	No	Hosted Custody
Fireblocks provides hosted custody services with a $10K-$50K/yr SaaS platform subscription based on tier. Per-transaction fees for transfers. Custom enterprise pricing available. custody fee and a Based on platform tier minimum balance. Full profile
GeminiEst. 2014	Yes	$200M+ via Nakamoto Ltd	0.04-0.10%/yr	$200,000 for custody	95%+	Annual SOC 2	No	Hosted Custody
Gemini provides hosted custody services and a $200,000 for custody minimum balance. Full profile
HashKeyEst. 2018	Yes	Undisclosed	Custom pricing	$1,000,000	98%	Annual	No	Hosted Custody
HashKey provides hosted custody services and a $1,000,000 minimum balance. Full profile
Hex TrustEst. 2018	Yes	Undisclosed	Custom pricing	Contact for requirements	95%+	Annual SOC 2	No	Hosted Custody
Hex Trust provides hosted custody services and a Contact for requirements minimum balance. Full profile
KomainuEst. 2018	Yes	Undisclosed	Custom pricing	$10,000,000	100%	Annual SOC 2	No	Hosted Custody
Komainu provides hosted custody services and a $10,000,000 minimum balance. Full profile
KrakenEst. 2011	Yes	Undisclosed	No custody fee	None for standard, custom for institutional	95%+	Annual SOC 2	Yes	Hosted Custody
Kraken provides hosted custody services and no minimum balance. Full profile
NunchukEst. 2020	No	None (self-custody)	Free / from $10/mo	None	100%	Open-source	No	Self-custody
Nunchuk provides for Bitcoin self-custody services. Full profile
NYDIG	Unknown	Commercial crime insurance covering digital assets held in custody; coverage levels disclosed to institutional clients under NDA.	–	$1,000,000	95%+	Annual SOC 2	No	Third-party
NYDIG is a US institutional Bitcoin custodian and financial services firm operating under bank-level regulatory oversight through its parent Stone Ridge Holdings Group. It stores 95%+ of assets in proprietary cold storage, holds an NYDFS BitLicense, and undergoes annual SOC 2 Type II audits. NYDIG focuses exclusively on Bitcoin and serves banks, insurance companies, and institutional investors. Full profile
Onramp BitcoinEst. 2022	Yes	Undisclosed	0.25-0.40%/yr	None	100%	Regular	Yes	Hybrid
Onramp Bitcoin provides for Bitcoin collaborative custody services. Full profile
PaxosEst. 2012	Yes	Crime policy	–	None	95%+	Annual SOC 2	Yes (monthly)	Third-party
Paxos is a US-regulated institutional Bitcoin and digital asset custodian operating under an NYDFS Trust Company charter. It holds assets in proprietary multi-signature cold storage (95%+), undergoes annual SOC 2 Type II audits, and serves major financial institutions including PayPal. Full profile
RiverEst. 2019	No	Undisclosed	No custody fee	None	100%	Regular	Yes	Hosted Custody
River provides for Bitcoin hosted custody services. Full profile
sFOXEst. 2014	Yes	Undisclosed	Custom pricing	Contact for requirements	95%+	Annual SOC 2	No	Hosted Custody
sFOX provides hosted custody services and a Contact for requirements minimum balance. Full profile
Tetra TrustEst. 2019	Yes	Undisclosed	0.20-0.50%/yr	Contact for requirements	95%+	Annual SOC 2	Yes	Hosted Custody
Tetra Trust provides hosted custody services and a Contact for requirements minimum balance. Full profile
TheyaEst. 2022	No	None (self-custody)	Free / from $10/mo	None	100%	Regular	No	Self-custody
Theya provides for Bitcoin self-custody services. Full profile
UnchainedEst. 2016	No	Undisclosed	$250-$500/yr	None	100%	Regular	No	Multisig
Unchained provides for Bitcoin multisig custody services. Full profile

Data as of Aug 24, 2026

Bitcoin custody, answered

What is a qualified Bitcoin custodian?

A qualified custodian is a federally or state-chartered bank, trust company, or broker-dealer legally permitted to hold client assets. Institutions such as pension funds and registered investment advisers are often required to use one. Examples include BitGo Trust (OCC), Coinbase Custody Trust (NYDFS), and Anchorage Digital Bank (OCC).

Which Bitcoin custodians are qualified custodians?

Of the 23 custodians we track, 16 are qualified custodians: Anchorage Digital, BitGo, Bitcoin Suisse AG, Coinbase, Copper, Crypto.com, Fidelity Digital, Gemini, HashKey, Hex Trust, Komainu, Kraken, Onramp Bitcoin, Paxos, Tetra Trust, sFOX. The remaining 7 are self-custody or collaborative custody platforms where qualified status does not apply, or hosted platforms without a trust charter.

How much insurance do Bitcoin custodians carry?

Publicly disclosed coverage includes Crypto.com ($750M), Coinbase ($320M), BitGo ($250M), Gemini ($200M). Coverage terms vary: crime and specie policies cover different scenarios. Always confirm with the custodian what assets and events are covered.

What does Bitcoin custody cost?

Institutional custody fees typically run 4 to 150 basis points annually (0.04% to 1.5%) depending on provider and AUM. Some providers charge no separate custody fee and monetize through trading spreads. Enterprise pricing is often custom above certain AUM thresholds.

Self-custody vs third-party custody: which do I need?

Self-custody means you control the private keys, typically via a hardware wallet. Third-party custody delegates key management to a licensed institution with security controls, insurance, and regulatory oversight. Institutions and high-net-worth holders generally use third-party custodians for compliance and operational simplicity.

Custody Articles, Guides, & Videos

Learn more about Bitcoin custody and security with our curated educational content.

Bitcoin

Article·9 min

Bitcoin Inheritance Planning 2026: How to Pass Crypto to Your Heirs Without Losing It

2.3-4 million BTC are permanently lost - most because someone died without a plan. Your family can't recover lost keys with a death certificate. Here's how to set up Bitcoin inheritance properly.

Introducing the New BitGo Platform

Official BitGo platform overview/demo.

Watch now

Morgan Stanley Just Launched the Cheapest Bitcoin ETF. That's Not the Real Story.

Analysis

Article·6 min

Morgan Stanley Just Launched the Cheapest Bitcoin ETF. That's Not the Real Story.

Morgan Stanley launched the cheapest spot Bitcoin ETF at 0.14%. It pulled $100M in week one. But the real story is 16,000 advisors managing $6.2 trillion with a proprietary Bitcoin product.

Francis Pouliot Introduces Bull Bitcoin’s New Wallet Backup Technology

How to onboard new entrants to Bitcoin in self-custody? Francis Pouliot explains RecoverBull, the new open-source feature now available in the BULL...

Watch now

Treasury

Article·5 min

Bitcoin for Corporations Returns to Bitcoin 2026. The Corporate Treasury Playbook Gets Its Own Stage.

Bitcoin for Corporations returns to Bitcoin 2026 on April 27. Around 200 public companies now hold BTC on their balance sheets. BFC is where the corporate treasury playbook gets formalized.

Nathan McCauley, CEO of Anchorage Digital, on Institutional Crypto Custody

Nathan McCauley is the CEO of Anchorage Digital, the first federally chartered digital asset bank in the U. S. Under his leadership, Anchorage provides...

Watch now

Explore Related Resources

Compare other Bitcoin financial products or deepen your understanding of Bitcoin custody and secure storage.

Other Bitcoin Products

Bitcoin ETFs Bitcoin Lenders Bitcoin Exchanges Bitcoin Cards Treasury Companies

Learn More

How to Safely Store Bitcoin: Cold vs Hot Wallets Best Bitcoin Custody Solutions in 2026 What is Bitcoin?Bitcoin Learning Center

Frequently Asked Questions

Common questions about Bitcoin custody and secure storage.

What is Bitcoin custody?

Bitcoin custody refers to the secure storage of private keys that control access to Bitcoin. Custodians implement multi-layer security including cold storage, multi-signature schemes, hardware security modules (HSMs), and geographic distribution to protect assets.

What is cold storage in Bitcoin custody?

Cold storage means private keys are held offline, disconnected from the internet, making them inaccessible to remote hackers. Reputable custodians typically keep 95%+ of assets in cold storage and maintain only a small hot wallet for operational withdrawals.

Do I need a custodian for a Bitcoin ETF?

Yes. Spot Bitcoin ETFs must appoint a qualified custodian to hold the underlying Bitcoin. The ETF prospectus will name the custodian and describe the custody arrangements.