10 Best Digital Asset Trust Companies for Institutions

I will analyze how the best digital asset trust companies for Institutions enable banks, funds, and other entities to scale their operations in the digital economy. These companies include Hex Trust, Anchorage Digital, BitGo, Fireblocks, Copper, Coinbase Custody, Fidelity Digital Assets, Cobo, Gemini Custody, and BNY Mellon.

They combine enterprise regulatory frameworks, advanced custody models, strict asset segregation, and sophisticated insurance and offer cutting-edge security. They facilitate the integration of traditional finance with digital wealth by offering services for settlement, staking, governance, and reporting, among others. By integrating global compliance, they provide platforms based on digital assets.

What Is a Digital Asset Trust Company?

Digital Asset Trust Companies (“DATCs”) are trusts that deal with digital assets such as cryptocurrencies and NFTs. A DATC is regulated to provide asset custody services. DATCs offer services to clients who wish to hold assets under a trust, and to facilitate the custody and transfer of those assets.

DATCs use advanced custody systems, which include multi-sig cryptographic wallets, MPC (multi-party computation), and cold storage to guard client assets and, in accordance with the trusted custody requirements, maintain profit segregation.

DATCs provide other services such as settlement, staking, governance, and reporting to their clients. DATCs have insurance coverage to mitigate the effects of theft or hacking, which may otherwise disrupt Digital Wealth Management.

What Makes a Digital Asset Trust Company Institutional-Grade?

Regulatory Licensing

Premier trust companies possess government licenses or charters which provide them the ability to operate compliant to regulations and reputability in relation to banks and funds who transact with digital assets.

Custody Architecture

They utilize multi-signature wallets and MPC cold storage technology which allows custodians to provide secure custody of clients’ assets and mitigates the risks of loss from theft, fraud, and operational disruptions.

Asset Segregation

Costodians ensure the company funds and client assets are segregated and do not mingle as well as ensuring they have an ownership structure consistent with their fiduciary obligations and compliance to regulations.

Security Controls

SOCC 2 audits, ISOS, multi-level authentication and biometrics, and multi-layer approvals are just some of the controls to increase the resiliency of the custodians’ operations.

Insurance Coverage

Institutional custodians protect client assets from losses in excess of hundreds of millions of dollars by providing insurance against theft and operational risks.

Institutional Services

They offer banking, trading, staking, and governance services, along with a reporting API, allowing banks, funds, and enterprises the ability to integrate digital assets into their operations.

Global Compliance

Institutional-grade custodians support multiple jurisdictions across the U.S., E.U., and Asia, ensuring global clients can operate across multiple regions in compliance with various regulations.

Key Point

Company	Founded	Key Point for Institutions
Hex Trust	2018	Asia‑focused licensed custodian; policy‑based withdrawal governance for funds and institutions.
Anchorage Digital	2017	Federally chartered crypto bank in the U.S.; regulated custody, staking, and trading APIs.
BitGo	2013	Qualified custodian with multi‑signature + MPC security; strong insurance coverage.
Fireblocks	2018	MPC‑based custody with advanced policy engines; supports 1,800+ assets across 80+ chains.
Copper	2018	ClearLoop settlement network; eliminates counterparty risk for institutional trading.
Coinbase Custody	2018	NYDFS‑regulated trust; cold storage + HSM; $320M insurance coverage.
Fidelity Digital Assets	2018	Institutional custody with focus on Bitcoin & Ethereum; backed by Fidelity’s trust charter.
Cobo	2017	SOC 2 Type II + ISO 27001 certified; zero‑incident history since 2017; supports 3,000+ tokens.
Gemini Custody	2015	NYDFS trust charter; SOC 2 Type II; cold storage with multi‑approval workflows.
BNY Mellon	2022	World’s largest custodian bank offering regulated crypto custody for BTC/ETH.

1. Hex Trust

Hex Trust is an institutional-grade Asian custodian that caters to the banking, fund, and fintech sectors. Hex Trust offers variable pricing based on high institutional volume and tiers custody and staking fees. Hex Trust is licensed under Hong Kong and Singapore frameworks and implements policy-based withdrawal governance. Hex Trust is built on a cold storage with an MPC structure, ensuring asset segregation.

Hex Trust has security controls such as SOC 2 compliance and ISO certification and has multi-layered approvals. Services include trading APIs, staking, and governance. Institutional services cover trading APIs, staking, and governance workflows. Insurance policies include theft and other operational risk. As one of the few custodians operating out of Asia, Hex Trust supports over 200 tokens, making it one of the larger custodians of Asia focused institutions.

Best For:

• Asia‑aligned institutions
• APAC pension funds
• Banks requesting policy-controlled governance
• Funds requiring multi‑jurisdictional custody

Pros:

• Licensed in Hong Kong & Singapore
• Policy-driven withdrawal controls
• Coverage for 200+ Assets
• Theft and hacks insurance

Cons:

• Limited coverage outside of Asia
• Smaller institutions pay more
• Focus more on custody over trading

2. Anchorage Digital

Anchorage Digital is the first U.S. based custodian to receive a Federal Crypto Banking Charter (Federally chartered crypto bank) from the Office of the Comptroller of the Currency (OCC) and is one of the first custodians to offer comprehensive services. Anchorage Digital offers bundled custody, staking, and trading for institutions at enterprise level pricing. Anchorage Digital has custody assets built on MPC with hardware enclaves providing client-segregated accounts.

Anchorage Digital has security controls with biometric authentication and policy engines and is SOC2 Type II compliant. Anchorage Digital services include custody, staking, settlement and lending with a robust insurance policy supported by their U.S. regulatory framework. Anchorage Digital ETF services are focused on U.S. regulated pension funds making Anchorage one of the more compliant custodians.

Best For:

• US regulated institutions
• Pension funds needing OCC charter
• Funds with focus on staking
• Enterprises with API needs

Pros:

• First federally chartered crypto bank
• MPC + hardware enclave custody
• Strong staking & settlement services
• Insurance backed by US frameworks

Cons:

• Limited insurance coverage outside US
• Higher costs for custody bundles
• Asset coverage is narrower than Fireblocks

3. BitGo

BitGo is an US and Switzerland-based custodian that was founded in 2013. It has competative pricing with custody fees and transaction-based charges. The custody architecture utilizes multi-signature wallets and MPC (‘‘multiparty computation’), which helps maintain client asset segregation. Some security controls include SOC 2 Type II audits, penetration testing, and insurance-backed guarantees.

Institutional services cover custody, settlement, lending, and staking. Insurance coverage is greater than $250M and helps protect against theft and hacking. BitGo’s over 1550 supported assets indicate that it is one of the most diverse custodians of funds, exchanges, and institutional investors.

Best For:

• Global funds & exchanges
• Institutions requiring multi-sig custody
• Investors concerned with insurance
• Investors with a diversified portfolio

Pros:

• $250M insurance
• Multi-sig + MPC
• 1550+ asset support
• SOC 2 Type II compliance

Cons:

• Can become prohibitively expensive for high-frequency use
• Complicated governance for multi-sig setups
• DeFi integration limited in comparison to Fireblocks

4. Fireblocks

Fireblocks has MPC-based custody and settlement infrastructure built on technology, providing SaaS pricing with different subscription levels geared towards institutional clients. Regulatory status is SOC 2 Type II and ISO 27001 with a focus more on providing technology rather than acting as a chartered bank.

Asset custody is MPC with hardware enclaves to ensure segregation. Some security controls are advanced policy engines and transaction monitoring with a zero-trust framework. Custody and settlement infrastructure provide an on-ramp to DeFi and staking. Insurance is available through partners to cover operational risks. Fireblocks is a clear leader in custody technology with over 1800 supported assets on 80+ chains.

Best For:

• tech-focused institutions
• funds that require access to DeFi
• enterprises that need adaptable custody solutions
• managers of multi-chain assets

Pros:

• MPC + hardware enclave custody
• More than 1,800 assets from over 80 chains
• Policy engines
• Efficient SaaS pricing model

Cons:

• Not a chartered bank; only a tech provider
• Partner-provided insurance; not direct
• Governance setup has a steeper learning curve

5. Copper

Copper is a U.K. based custodian that built its reputation on its ClearLoop settlement network. Copper’s model is built around custody and settlement fees, though, trading institutions are the core focus of Copper’s model and pricing. Copper has an FCA registration and SOC 2 compliance for its regulatory status.

Copper’s custody model uses MPC and segregated accounts, thus, ensuring assets held for clients are held with safeguards. Security controls include robust approval workflows, real-time asset monitoring, and penetration tests.

Institutional services consist of custody, settlement, and prime brokering. Robust theft and operational insurance is available. In terms of supported assets, Copper leads with major cryptocurrencies and DeFi tokens.

Best For:

• Trading institutions and hedge funds looking to eliminate settlement risk
• Regulated U.K. investors and institutions

Pros:

• ClearLoop settlement removes exchange risk
• FCA registration and compliance with SOC
• MPC custody with segregation
• Excellent services for prime brokerage

Cons:

• Limited insurance relative to BitGo/Coinbase
• Less asset coverage than Cobo
• Primarily focuses on trading institutions

6. Coinbase Custody

Coinbase Custody was founded in 2018 and is a NYDFS-regulated trust. Like Copper, Custody also includes transaction fees, custody fees, and embeds institutional insurance. The custody model is built on cold storage with integrated HSM to ensure client asset protection. Security controls include biometric authentication and SOC 1 and SOC 2 audits.

Institutional services encompass custody, staking, and trading APIs with oversight for governance and control. Their insurance coverage is industry-leading at ~$320M. Due to their wide range of supported assets, querying over 200, Coinbase Custody services are preferred by U.S. institutions and pension funds.

Best For:

• U.S. pension funds and insurance-sensitive investors
• Institutions requiring trust charter
• Investors needing staking governance

Pros:

• $320M insurance coverage
• Cold storage and HSM
• Audits of SOC 1 and SOC 2
• Superior compliance

Cons:

• Limited to about 200 assets
• Elevated custody fees
• Primarily for U.S. institutions

7. Fidelity Digital Assets

Fidelity Digital Assets is the custody arm of Fidelity Investments specializing in Bitcoin and Ethereum. Pricing is low reflective of the industry. It has trust charters under several U.S. based regulatory frameworks.

Custody services utilize cold storage and segregated accounts. Security measures include SOC 2 compliance, multiple approval systems, and enterprise-level monitoring. Institutional services include custody, settlement, and trading.

Insurance offered is extensive and ties into Fidelity’s strong financial backing. Currently supported are Bitcoin and Ethereum. This is attractive to other institutions, such as pensions and endowments, that wish to have regulated exposure to digital assets.

Best For:

• Conservative institutions and pension funds
• Endowments and investors focused on BTC and ETH

Pros:

• Large backing by Fidelity Investments
• Strong, cold storage and robust insurance
• Strong U.S. regulatory framework

Cons:

• Custody services limited to BTC and ETH
• Rare DeFi and staking services
• Conservative positioning; will likely deter innovative institutions

8. Cobo

Founded outside of the U.S., Cobo has both SOC 2 Type II and ISO 27001 certifications and has custody and staking integrated for institutions at a lower price point. In 2017, Cobo introduced its custody solution utilizing MPC which has yet to experience an incident.

Security measures include hardware enclaves and policy engines along with penetration testing. Institutional services offered include custody, staking, DeFi, as well as governance. Insurance coverage is accessible through international partners. Cobo offers custody to over 3,000 different digital assets, which makes them one of the largest digital asset custodians, targeting funds and companies with diverse portfolios.

Best For:

• Institutions and funds with a diversified portfolio, especially those based in Asia
• Companies focused on staking
• Institutions that need access to DeFi

Pros:

• SOC 2 Type II + ISO 27001 certified
• Zero-incident history since 2017
• Supports over 3,000 tokens
• Strong MPC custody

Cons:

• Limited insurance compared to Coinbase/BitGo
• Focused on Asia
• Less visibility in the U.S. and E.U.

9. Gemini Custody

Gemini Custody was founded in 2015 and holds a trust charter under NYDFS. Pricing consists of custody and transaction fees. Custody architecture relies on cold storage with accounts held in separate capacity. Security controls consist of a SOC 2 Type II audit, multi-approval workflows, and biometric authentication.

Services offered include custody, settlement, and governance for institutions. Insurance offered is robust and protects against hacks and theft. The assets that Gemini Custody is able to provide custody services for include major cryptocurrencies, enticing numerous U.S. based institutions to utilize the custody services Gemini Custody provides.

Gemini Custody

Pros:

• U.S. regulated institutions
• Funds needing SOC 2 Type II compliance
• Cold storage institutions
• Investors sensitive to insurance

Pros:

• NYDFS Trust charter
• SOC 2 Type II audits
• Cold storage with multiple approval workflows
• Strong insurance

Cons:

• Smaller asset coverage than Fireblocks/Cobo
• More expensive custody
• Less global reach than Hex Trust

10. BNY Mellon

In 2022, BNY Mellon, the largest custodian bank in the world, began offering crypto custody services. They have also designed their pricing in a way to better attract banks and funds. Regulatory oversight lies with the U.S. banking charter. Incorporating cold storage and segregated accounts, coupled with enterprise-grade monitoring and multi-level approval, provides good security controls.

The services offered consist of custody, settlement, and integrations with traditional banking. Insurance provided is of a good value given BNY Mellon’s financial backing. Currently, only Bitcoin and Ethereum are supported, making them the most trusted, however conservative, custodian for international institutions.

Best For:

• Global banks and pension funds
• Institutions that need integration of traditional custody
• BTC/ETH focused investors
• Institutions focused on insurance

Pros:

• The world’s largest custodian bank
• Strong U.S. regulatory oversight
• Cold storage with segregated accounts
• Comprehensive insurance

Cons:

• Only BTC and ETH supported
• Conservative approach leads to lack of innovation
• More expensive custody, in line with traditional custody

Conclusion

A Digital Asset Trust Company offers trust with regulation and a high level of security combined with the importance of keeping client assets safe. From the data gathered, Hex Trust, Anchorage Digital, BitGo, Fireblocks, Copper, Coinbase Custody, Fidelity Digital Assets, Cobo, Gemini Custody, and BNY Mellon have established trust with institutions.

They offer high level custody services through licensing, multi-signature (or MPC) custody, and crypto custody insurance with strict asset separation. Each company has targeted a specific niche either in U.S. regulatory compliance or in the conservative custody of BTC or ETH – focused in Asia or the U.S or Multi-asset coverage. The combination of all of the companies allows institutions to feel comfortable and compliant while scaling their digital wealth.

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