Anchorage Digital vs Bakkt — Head-to-Head Custody Comparison

An independent, data-driven comparison of Anchorage Digital and Bakkt across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Anchorage Digital scores 7.9 vs Bakkt's 7.0. Anchorage Digital leads in 6 of 8 categories.

Anchorage Digital is better suited for Institutions, Asset managers, Protocol treasuries. Bakkt is better suited for Institutions, Financial services companies, Fintechs.

7.9

GoodCustody Score

Anchorage Digital

GoodCustody Score

Bakkt

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Anchorage Digital	Bakkt	Winner
Security	20%	9.5	8.0	Anchorage Digital
Insurance	15%	8.0	6.0	Anchorage Digital
Regulatory	15%	10.0	8.5	Anchorage Digital
Fee Transparency	10%	4.0	7.0	Bakkt
Track Record	15%	8.0	7.0	Anchorage Digital
Withdrawal Flexibility	10%	7.0	6.5	Anchorage Digital
Reporting & Audit	10%	9.0	7.5	Anchorage Digital
Counterparty Diversification	5%	2.0	2.0	Tie
Overall Score	100%	7.9	7	Anchorage Digital

Visual

Score Radar

Visual overlay of Anchorage Digital and Bakkt across all categories.

Anchorage DigitalBakkt

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (9.5 vs 8.0)

Anchorage Digital uses HSM + biometric authentication key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No incidents.

Bakkt uses Cold storage with multi-zone physical security key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 (details not fully public). Incident history: No custody incidents. Company has faced financial challenges (stock price decline)..

Insurance (8.0 vs 6.0)

Anchorage Digital offers Significant coverage (not publicly disclosed) via Major carriers. As an OCC-chartered bank, subject to bank-level regulatory capital requirements.

Bakkt offers $125M reported (as of 2019, may have changed) via Not publicly confirmed recently. Insurance details less transparent than competitors. Originally claimed $125M coverage.

Regulatory (10.0 vs 8.5)

Anchorage Digital holds OCC National Trust Bank Charter and is a qualified custodian operating in United States. First and only federally chartered crypto bank. Highest level of US regulatory approval for a digital asset custodian.

Bakkt holds NYDFS Qualified Custodian (Bakkt Trust Company LLC) and is a qualified custodian operating in United States. Bakkt Trust Company LLC is a New York State-regulated qualified custodian. Parent ICE/NYSE provides institutional gravitas.

Fee Transparency (4.0 vs 7.0)

Anchorage Digital charges Custom in annual custody fees with Custom per transaction. Fully custom pricing for institutional clients. No self-serve option.

Bakkt charges 0.10% AUM/month for BTC (1.2% annually). 0.20% AUM/month for ETH. in annual custody fees with Varies per transaction. $100/month minimum fee. Higher annual rate than most competitors.

Track Record (8.0 vs 7.0)

Anchorage Digital was founded in 2017 and is headquartered in San Francisco, CA. AUM: Not publicly disclosed (serves major institutions). Incident history: No incidents.

Bakkt was founded in 2018 and is headquartered in Alpharetta, GA. AUM: Not publicly disclosed. Incident history: No custody incidents. Company has faced financial challenges (stock price decline)..

Withdrawal Flexibility (7.0 vs 6.5)

Anchorage Digital withdrawal fees: Custom. Minimum account: Institutional only. Supported assets: Bitcoin, Ethereum, Multiple digital assets.

Bakkt withdrawal fees: Network fees. Minimum account: Contact for pricing. Supported assets: Bitcoin, Ethereum.

Reporting & Audit (9.0 vs 7.5)

Anchorage Digital: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.

Bakkt: SOC compliance is SOC 2 (details not fully public). As a qualified custodian, it meets SEC reporting requirements.

Counterparty Diversification (2.0 vs 2.0)

Anchorage Digital is a qualified custodian provider. Key management: Proprietary HSM-based system with biometric authentication and multi-layer approval workflows..

Bakkt is a qualified custodian provider. Key management: Warehouse-grade cold storage with multi-zone physical security..

Fees

Fee Comparison

Side-by-side fee breakdown for Anchorage Digital and Bakkt.

Fee Type	Anchorage Digital	Bakkt
Setup Fee	Custom institutional pricing	Contact for pricing
Annual Custody	Custom	0.10% AUM/month for BTC (1.2% annually). 0.20% AUM/month for ETH.
Transaction	Custom	Varies
Withdrawal	Custom	Network fees

Anchorage Digital: Fully custom pricing for institutional clients. No self-serve option.

Bakkt: $100/month minimum fee. Higher annual rate than most competitors.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Anchorage Digital	Bakkt
24/7 response support	✗	✓
Advanced governance and approval workflows	✓	✗
Biometric authentication	✓	✗
Consumer wallet solutions	✗	✓
Crypto rewards and loyalty programs	✗	✓
DeFi access from custody	✓	✗
Federally chartered digital asset bank	✓	✗
ICE/NYSE pedigree	✗	✓
Publicly traded (BKKT)	✗	✓
Staking from custody	✓	✗
Trading and settlement	✓	✗
Warehouse-grade cold storage	✗	✓

Recommendation

Who Should Choose Which?

Anchorage Digital is better if you…

✓Are a institutions
✓Are a asset managers
✓Are a protocol treasuries
✓Are a government entities
✓Want: Only federally chartered digital asset bank — highest US regulatory status
✓Want: Trusted by Visa, Samsung, and other blue-chip institutions
✓Want: SOC 2 Type 2 compliant

Bakkt is better if you…

✓Are a institutions
✓Are a financial services companies
✓Are a fintechs
✓Are a merchants
✓Want: Owned by ICE (NYSE parent) — unmatched traditional finance pedigree
✓Want: NYDFS qualified custodian
✓Want: Publicly traded — financial transparency

FAQ

Frequently Asked Questions

Is Anchorage Digital or Bakkt better for Bitcoin custody?

Anchorage Digital scores 7.9 vs 7.0 in our weighted Custody Score. Anchorage Digital leads in 6 of 8 scoring categories. However, the best choice depends on your specific needs: Anchorage Digital is best for Institutions and Asset managers, while Bakkt suits Institutions and Financial services companies.

What is the difference between Anchorage Digital and Bakkt?

Anchorage Digital is a qualified custodian provider, while Bakkt is a qualified custodian provider. Anchorage Digital excels in Regulatory, whereas Bakkt is strongest in Regulatory.

How do Anchorage Digital and Bakkt fees compare?

Anchorage Digital charges Custom annual custody fees with Custom transaction fees. Bakkt charges 0.10% AUM/month for BTC (1.2% annually). 0.20% AUM/month for ETH. annual custody fees with Varies transaction fees.

Which is more secure, Anchorage Digital or Bakkt?

Anchorage Digital scores 9.5/10 for security while Bakkt scores 8.0/10. Anchorage Digital uses HSM + biometric authentication key management, and Bakkt uses Cold storage with multi-zone physical security.