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

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

Verdict

Quick Verdict

Coinbase Custody scores 8.2 vs Anchorage Digital's 7.9. Coinbase Custody leads in 3 of 8 categories.

Coinbase Custody is better suited for ETF issuers, Hedge funds, Asset managers. Anchorage Digital is better suited for Institutions, Asset managers, Protocol treasuries.

8.2

Very GoodCustody Score

Coinbase Custody

7.9

GoodCustody Score

Anchorage Digital

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Coinbase Custody	Anchorage Digital	Winner
Security	20%	9.0	9.5	Anchorage Digital
Insurance	15%	8.0	8.0	Tie
Regulatory	15%	9.5	10.0	Anchorage Digital
Fee Transparency	10%	7.0	4.0	Coinbase Custody
Track Record	15%	8.5	8.0	Coinbase Custody
Withdrawal Flexibility	10%	7.5	7.0	Coinbase Custody
Reporting & Audit	10%	9.0	9.0	Tie
Counterparty Diversification	5%	2.0	2.0	Tie
Overall Score	100%	8.2	7.9	Coinbase Custody

Visual

Score Radar

Visual overlay of Coinbase Custody and Anchorage Digital across all categories.

Coinbase CustodyAnchorage Digital

Deep Dive

Category-by-Category Analysis

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

Security (9.0 vs 9.5)

Coinbase Custody uses Proprietary cold storage key management with 98%+ cold storage in cold storage and regular penetration testing. Compliance: SOC 1 Type 2, SOC 2 Type 2. Incident history: No custody-specific breaches. Coinbase exchange has had minor incidents..

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.

Insurance (8.0 vs 8.0)

Coinbase Custody offers Significant coverage (exact amount not publicly disclosed) via Multiple carriers. Crime insurance covering theft from breach of physical or cyber security. Coinbase publicly listed — financial transparency via SEC filings.

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

Regulatory (9.5 vs 10.0)

Coinbase Custody holds New York BitLicense, NY Trust Charter (Coinbase Custody Trust Company) and is a qualified custodian operating in United States. Coinbase Custody Trust Company, LLC is a fiduciary under New York State Banking Law. Publicly traded (COIN) providing financial transparency.

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.

Fee Transparency (7.0 vs 4.0)

Coinbase Custody charges 0.50% AUM (50bps) — tiered for large balances in annual custody fees with Varies per transaction. Pricing negotiable for large institutional clients. ETF custodian arrangements have separate terms.

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

Track Record (8.5 vs 8.0)

Coinbase Custody was founded in 2018 and is headquartered in San Francisco, CA (Coinbase Global). AUM: $300B+ (Coinbase platform total). Incident history: No custody-specific breaches. Coinbase exchange has had minor incidents..

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

Withdrawal Flexibility (7.5 vs 7.0)

Coinbase Custody withdrawal fees: Network fees + processing fee. Minimum account: $500,000. Supported assets: Bitcoin, Ethereum, 400+ assets.

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

Reporting & Audit (9.0 vs 9.0)

Coinbase Custody: SOC compliance is SOC 1 Type 2, SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.

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

Counterparty Diversification (2.0 vs 2.0)

Coinbase Custody is a qualified custodian provider. Key management: Proprietary cold storage with multi-layer security. Air-gapped signing infrastructure..

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

Fees

Fee Comparison

Side-by-side fee breakdown for Coinbase Custody and Anchorage Digital.

Fee Type	Coinbase Custody	Anchorage Digital
Setup Fee	$10,000 one-time	Custom institutional pricing
Annual Custody	0.50% AUM (50bps) — tiered for large balances	Custom
Transaction	Varies	Custom
Withdrawal	Network fees + processing fee	Custom

Coinbase Custody: Pricing negotiable for large institutional clients. ETF custodian arrangements have separate terms.

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

Features

Feature Comparison

Checklist of features across both providers.

Feature	Coinbase Custody	Anchorage Digital
Advanced governance and approval workflows	✗	✓
Biometric authentication	✗	✓
Cold storage for 400+ assets	✓	✗
Custodian for major Bitcoin ETFs	✓	✗
DeFi access from custody	✗	✓
Dedicated account management	✓	✗
Federally chartered digital asset bank	✗	✓
Integration with Coinbase Prime for trading	✓	✗
Regulatory reporting and compliance tools	✓	✗
Staking (governance participation from cold storage)	✓	✗
Staking from custody	✗	✓
Trading and settlement	✗	✓

Recommendation

Who Should Choose Which?

Coinbase Custody is better if you…

✓Are a etf issuers
✓Are a hedge funds
✓Are a asset managers
✓Are a institutions
✓Want: Custodian for BlackRock, Fidelity, and other major ETFs — ultimate institutional validation
✓Want: Publicly traded company — financial transparency via SEC filings
✓Want: SOC 1 & SOC 2 Type 2 compliant

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

FAQ

Frequently Asked Questions

Is Coinbase Custody or Anchorage Digital better for Bitcoin custody?

Coinbase Custody scores 8.2 vs 7.9 in our weighted Custody Score. Coinbase Custody leads in 3 of 8 scoring categories. However, the best choice depends on your specific needs: Coinbase Custody is best for ETF issuers and Hedge funds, while Anchorage Digital suits Institutions and Asset managers.

What is the difference between Coinbase Custody and Anchorage Digital?

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

How do Coinbase Custody and Anchorage Digital fees compare?

Coinbase Custody charges 0.50% AUM (50bps) — tiered for large balances annual custody fees with Varies transaction fees. Anchorage Digital charges Custom annual custody fees with Custom transaction fees.

Which is more secure, Coinbase Custody or Anchorage Digital?

Coinbase Custody scores 9.0/10 for security while Anchorage Digital scores 9.5/10. Coinbase Custody uses Proprietary cold storage key management, and Anchorage Digital uses HSM + biometric authentication.