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

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

Verdict

Quick Verdict

Anchorage Digital scores 7.9 vs Gemini Custody's 7.7. Anchorage Digital leads in 4 of 8 categories.

Anchorage Digital is better suited for Institutions, Asset managers, Protocol treasuries. Gemini Custody is better suited for Institutions, Funds, Family offices.

7.9

GoodCustody Score

Anchorage Digital

7.7

GoodCustody Score

Gemini Custody

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Anchorage Digital	Gemini Custody	Winner
Security	20%	9.5	8.5	Anchorage Digital
Insurance	15%	8.0	7.0	Anchorage Digital
Regulatory	15%	10.0	9.0	Anchorage Digital
Fee Transparency	10%	4.0	7.5	Gemini Custody
Track Record	15%	8.0	7.0	Anchorage Digital
Withdrawal Flexibility	10%	7.0	7.5	Gemini Custody
Reporting & Audit	10%	9.0	9.0	Tie
Counterparty Diversification	5%	2.0	2.0	Tie
Overall Score	100%	7.9	7.7	Anchorage Digital

Visual

Score Radar

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

Anchorage DigitalGemini Custody

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 8.5)

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.

Gemini Custody uses HSM-based cold storage key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 1 Type 2 + SOC 2 Type 2. Incident history: Gemini Earn program issues in 2022 (separate from custody). No custody-specific incidents..

Insurance (8.0 vs 7.0)

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

Gemini Custody offers Insurance on all crypto stored in hot wallet. Cold storage coverage varies. via Top insurance providers. Gemini is one of few exchanges offering insurance on online assets. Cold storage insurance details available to institutional clients.

Regulatory (10.0 vs 9.0)

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.

Gemini Custody holds New York Trust Charter, SOC 1 Type 2, SOC 2 Type 2 and is a qualified custodian operating in United States. New York State Department of Financial Services regulated trust company. First crypto exchange to achieve both SOC 1 and SOC 2 Type 2.

Fee Transparency (4.0 vs 7.5)

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

Gemini Custody charges 0.40% AUM annually (40bps) — tiered in annual custody fees with Varies by volume per transaction. Lower than Coinbase Custody's 50bps for comparable service.

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.

Gemini Custody was founded in 2019 and is headquartered in New York, NY. AUM: Not publicly disclosed. Incident history: Gemini Earn program issues in 2022 (separate from custody). No custody-specific incidents..

Withdrawal Flexibility (7.0 vs 7.5)

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

Gemini Custody withdrawal fees: Network fees. Minimum account: Contact for pricing. Supported assets: Bitcoin, Ethereum, 70+ assets.

Reporting & Audit (9.0 vs 9.0)

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

Gemini Custody: SOC compliance is SOC 1 Type 2 + SOC 2 Type 2. 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..

Gemini Custody is a qualified custodian provider. Key management: Proprietary cold storage system with HSMs and multi-layer security protocols..

Fees

Fee Comparison

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

Fee Type	Anchorage Digital	Gemini Custody
Setup Fee	Custom institutional pricing	Contact for pricing
Annual Custody	Custom	0.40% AUM annually (40bps) — tiered
Transaction	Custom	Varies by volume
Withdrawal	Custom	Network fees

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

Gemini Custody: Lower than Coinbase Custody's 50bps for comparable service.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Anchorage Digital	Gemini Custody
70+ asset support	✗	✓
Advanced governance and approval workflows	✓	✗
Available in all 50 US states	✗	✓
Biometric authentication	✓	✗
Cold storage custody	✗	✓
DeFi access from custody	✓	✗
Federally chartered digital asset bank	✓	✗
Hardware security key support (WebAuthn)	✗	✓
Integration with Gemini exchange	✗	✓
SOC 1 & SOC 2 Type 2 certified	✗	✓
Staking from custody	✓	✗
Trading and settlement	✓	✗

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

Gemini Custody is better if you…

✓Are a institutions
✓Are a funds
✓Are a family offices
✓Are a fiduciaries
✓Want: First crypto exchange to achieve SOC 1 + SOC 2 Type 2
✓Want: Competitive custody fee at 40bps
✓Want: Available in all 50 US states

FAQ

Frequently Asked Questions

Is Anchorage Digital or Gemini Custody better for Bitcoin custody?

Anchorage Digital scores 7.9 vs 7.7 in our weighted Custody Score. Anchorage Digital leads in 4 of 8 scoring categories. However, the best choice depends on your specific needs: Anchorage Digital is best for Institutions and Asset managers, while Gemini Custody suits Institutions and Funds.

What is the difference between Anchorage Digital and Gemini Custody?

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

How do Anchorage Digital and Gemini Custody fees compare?

Anchorage Digital charges Custom annual custody fees with Custom transaction fees. Gemini Custody charges 0.40% AUM annually (40bps) — tiered annual custody fees with Varies by volume transaction fees.

Which is more secure, Anchorage Digital or Gemini Custody?

Anchorage Digital scores 9.5/10 for security while Gemini Custody scores 8.5/10. Anchorage Digital uses HSM + biometric authentication key management, and Gemini Custody uses HSM-based cold storage.