Fidelity Digital Assets vs BitGo — Head-to-Head Custody Comparison
An independent, data-driven comparison of Fidelity Digital Assets and BitGo across security, insurance, fees, regulatory compliance, and more.
Verdict
Quick Verdict
Fidelity Digital Assets scores 8.4 vs BitGo's 8.2. Fidelity Digital Assets leads in 4 of 8 categories.
Fidelity Digital Assets is better suited for Institutional investors, RIAs, Family offices. BitGo is better suited for Institutions, Exchanges, Funds.
Scores
Score Comparison
Weighted scores across all 8 custody criteria.
| Criterion | Weight | Fidelity Digital Assets | BitGo | Winner |
|---|---|---|---|---|
| Security | 20% | 9.5 | 9.0 | Fidelity Digital Assets |
| Insurance | 15% | 9.5 | 8.5 | Fidelity Digital Assets |
| Regulatory | 15% | 10.0 | 9.0 | Fidelity Digital Assets |
| Fee Transparency | 10% | 5.0 | 6.5 | BitGo |
| Track Record | 15% | 9.0 | 9.0 | Tie |
| Withdrawal Flexibility | 10% | 7.0 | 8.0 | BitGo |
| Reporting & Audit | 10% | 9.0 | 8.5 | Fidelity Digital Assets |
| Counterparty Diversification | 5% | 2.0 | 3.0 | BitGo |
| Overall Score | 100% | 8.4 | 8.2 | Fidelity Digital Assets |
Visual
Score Radar
Visual overlay of Fidelity Digital Assets and BitGo across all categories.
Deep Dive
Category-by-Category Analysis
A deeper look at how each provider performs in every scoring criterion.
Security (9.5 vs 9.0)
Fidelity Digital Assets uses HSM-based cold storage key management with Vast majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No incidents.
BitGo uses Multi-signature + MPC key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: No major incidents. Minor service disruptions reported..
Insurance (9.5 vs 8.5)
Fidelity Digital Assets offers Up to $1B reported via Major insurance carriers. One of the highest insurance coverage amounts in the industry. Exact terms available to institutional clients.
BitGo offers $250M policy limit via Lloyd's of London syndicate. Covers assets in hot and cold storage against theft and security breaches. Institutions should confirm per-asset limits and exclusions.
Regulatory (10.0 vs 9.0)
Fidelity Digital Assets holds New York State Trust Charter (Fidelity Digital Assets, National Association) and is a qualified custodian operating in United States. Fidelity Digital Assets, National Association is a national trust bank chartered by the OCC. Parent company Fidelity Investments is one of the most regulated financial institutions globally.
BitGo holds South Dakota Trust Charter, New York BitLicense and is a qualified custodian operating in United States. BitGo Trust Company is a qualified custodian regulated by the South Dakota Division of Banking.
Fee Transparency (5.0 vs 6.5)
Fidelity Digital Assets charges Contact for pricing (competitive institutional rates) in annual custody fees with 1% spread on Fidelity Crypto retail platform per transaction. Retail Fidelity Crypto charges 1% spread. Institutional custody pricing is separate and negotiable.
BitGo charges Based on AUM — tiered pricing in annual custody fees with Varies per transaction. Enterprise pricing available. BitGo Go for smaller clients.
Track Record (9.0 vs 9.0)
Fidelity Digital Assets was founded in 2018 and is headquartered in Boston, MA. AUM: Not publicly disclosed (Fidelity overall: $14T+). Incident history: No incidents.
BitGo was founded in 2013 and is headquartered in Palo Alto, CA. AUM: $64B+ in custody. Incident history: No major incidents. Minor service disruptions reported..
Withdrawal Flexibility (7.0 vs 8.0)
Fidelity Digital Assets withdrawal fees: Contact for pricing. Minimum account: Institutional only — contact for details. Supported assets: Bitcoin, Ethereum.
BitGo withdrawal fees: Network fees. Minimum account: Contact for pricing. Supported assets: Bitcoin, Ethereum, 700+ tokens.
Reporting & Audit (9.0 vs 8.5)
Fidelity Digital Assets: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.
BitGo: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.
Counterparty Diversification (2.0 vs 3.0)
Fidelity Digital Assets is a qualified custodian provider. Key management: Proprietary cold storage using HSMs in secure, geographically distributed facilities..
BitGo is a qualified custodian provider. Key management: Multi-signature (2-of-3) with optional MPC. Keys split between client and BitGo..
Fees
Fee Comparison
Side-by-side fee breakdown for Fidelity Digital Assets and BitGo.
| Fee Type | Fidelity Digital Assets | BitGo |
|---|---|---|
| Setup Fee | Contact for pricing | Varies by plan |
| Annual Custody | Contact for pricing (competitive institutional rates) | Based on AUM — tiered pricing |
| Transaction | 1% spread on Fidelity Crypto retail platform | Varies |
| Withdrawal | Contact for pricing | Network fees |
Fidelity Digital Assets: Retail Fidelity Crypto charges 1% spread. Institutional custody pricing is separate and negotiable.
BitGo: Enterprise pricing available. BitGo Go for smaller clients.
Features
Feature Comparison
Checklist of features across both providers.
| Feature | Fidelity Digital Assets | BitGo |
|---|---|---|
| 24/7 operational support | ✓ | ✗ |
| 700+ token support | ✗ | ✓ |
| DeFi and Web3 access | ✗ | ✓ |
| Dedicated institutional trading desk | ✓ | ✗ |
| Fidelity Wise Origin Bitcoin Fund (FBTC) custody | ✓ | ✗ |
| Hot and cold storage options | ✗ | ✓ |
| Institutional-grade cold storage | ✓ | ✗ |
| Integration with Fidelity's broader financial ecosystem | ✓ | ✗ |
| Multi-signature wallets (2-of-3) | ✗ | ✓ |
| Policy engine for governance workflows | ✗ | ✓ |
| Portfolio and tax reporting | ✗ | ✓ |
| Regulatory reporting | ✓ | ✗ |
| Staking services | ✗ | ✓ |
Recommendation
Who Should Choose Which?
Fidelity Digital Assets is better if you…
- ✓Are a institutional investors
- ✓Are a rias
- ✓Are a family offices
- ✓Are a pension funds
- ✓Want: Backed by Fidelity — $14T+ AUM parent company
- ✓Want: Up to $1B insurance coverage — industry-leading
- ✓Want: National trust bank charter (OCC regulated)
BitGo is better if you…
- ✓Are a institutions
- ✓Are a exchanges
- ✓Are a funds
- ✓Are a fintechs
- ✓Want: Industry-leading institutional track record since 2013
- ✓Want: $250M insurance coverage
- ✓Want: SOC 2 Type 2 compliant
FAQ
Frequently Asked Questions
Is Fidelity Digital Assets or BitGo better for Bitcoin custody?
Fidelity Digital Assets scores 8.4 vs 8.2 in our weighted Custody Score. Fidelity Digital Assets leads in 4 of 8 scoring categories. However, the best choice depends on your specific needs: Fidelity Digital Assets is best for Institutional investors and RIAs, while BitGo suits Institutions and Exchanges.
What is the difference between Fidelity Digital Assets and BitGo?
Fidelity Digital Assets is a qualified custodian provider, while BitGo is a qualified custodian provider. Fidelity Digital Assets excels in Regulatory, whereas BitGo is strongest in Security.
How do Fidelity Digital Assets and BitGo fees compare?
Fidelity Digital Assets charges Contact for pricing (competitive institutional rates) annual custody fees with 1% spread on Fidelity Crypto retail platform transaction fees. BitGo charges Based on AUM — tiered pricing annual custody fees with Varies transaction fees.
Which is more secure, Fidelity Digital Assets or BitGo?
Fidelity Digital Assets scores 9.5/10 for security while BitGo scores 9.0/10. Fidelity Digital Assets uses HSM-based cold storage key management, and BitGo uses Multi-signature + MPC.
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