Coinbase Custody vs Copper — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Coinbase Custody scores 8.2 vs Copper's 7.1. Coinbase Custody leads in 6 of 8 categories.

Coinbase Custody is better suited for ETF issuers, Hedge funds, Asset managers. Copper is better suited for Institutions, Hedge funds, Trading firms.

8.2

Very GoodCustody Score

Coinbase Custody

7.1

GoodCustody Score

Copper

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Coinbase Custody	Copper	Winner
Security	20%	9.0	8.5	Coinbase Custody
Insurance	15%	8.0	7.0	Coinbase Custody
Regulatory	15%	9.5	7.5	Coinbase Custody
Fee Transparency	10%	7.0	5.0	Coinbase Custody
Track Record	15%	8.5	7.0	Coinbase Custody
Withdrawal Flexibility	10%	7.5	7.5	Tie
Reporting & Audit	10%	9.0	7.5	Coinbase Custody
Counterparty Diversification	5%	2.0	3.0	Copper
Overall Score	100%	8.2	7.1	Coinbase Custody

Visual

Score Radar

Visual overlay of Coinbase Custody and Copper across all categories.

Coinbase CustodyCopper

Deep Dive

Category-by-Category Analysis

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

Security (9.0 vs 8.5)

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..

Copper uses MPC-based custody 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 7.0)

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.

Copper offers Insurance coverage available via Lloyd's market. Institutional custody insurance available.

Regulatory (9.5 vs 7.5)

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.

Copper holds UK regulatory permissions pending and is not a qualified custodian operating in United Kingdom. UK-based. Seeking full FCA authorization.

Fee Transparency (7.0 vs 5.0)

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.

Copper charges Custom in annual custody fees with Custom per transaction. Enterprise pricing. ClearLoop reduces counterparty risk for trading.

Track Record (8.5 vs 7.0)

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..

Copper was founded in 2018 and is headquartered in London, UK. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (7.5 vs 7.5)

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

Copper withdrawal fees: Network fees. Minimum account: Institutional only. Supported assets: Bitcoin, Ethereum, 400+ assets.

Reporting & Audit (9.0 vs 7.5)

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

Copper: SOC compliance is SOC 2 Type 2. Not classified as a qualified custodian.

Counterparty Diversification (2.0 vs 3.0)

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

Copper is a qualified custodian provider. Key management: MPC-based custody. ClearLoop off-exchange settlement..

Fees

Fee Comparison

Side-by-side fee breakdown for Coinbase Custody and Copper.

Fee Type	Coinbase Custody	Copper
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	Network fees

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

Copper: Enterprise pricing. ClearLoop reduces counterparty risk for trading.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Coinbase Custody	Copper
400+ asset support	✗	✓
ClearLoop off-exchange trading	✗	✓
Cold storage for 400+ assets	✓	✗
Custodian for major Bitcoin ETFs	✓	✗
DeFi access from custody	✗	✓
Dedicated account management	✓	✗
Global institutional service	✗	✓
Integration with Coinbase Prime for trading	✓	✗
MPC-based key management	✗	✓
Policy engine	✗	✓
Regulatory reporting and compliance tools	✓	✗
Staking (governance participation from cold storage)	✓	✗

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

Copper is better if you…

✓Are a institutions
✓Are a hedge funds
✓Are a trading firms
✓Are a asset managers
✓Want: ClearLoop — trade without moving assets to exchange
✓Want: MPC technology — no single point of failure
✓Want: SOC 2 Type 2 certified

FAQ

Frequently Asked Questions

Is Coinbase Custody or Copper better for Bitcoin custody?

Coinbase Custody scores 8.2 vs 7.1 in our weighted Custody Score. Coinbase Custody leads in 6 of 8 scoring categories. However, the best choice depends on your specific needs: Coinbase Custody is best for ETF issuers and Hedge funds, while Copper suits Institutions and Hedge funds.

What is the difference between Coinbase Custody and Copper?

Coinbase Custody is a qualified custodian provider, while Copper is a qualified custodian provider. Coinbase Custody excels in Regulatory, whereas Copper is strongest in Security.

How do Coinbase Custody and Copper fees compare?

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

Which is more secure, Coinbase Custody or Copper?

Coinbase Custody scores 9.0/10 for security while Copper scores 8.5/10. Coinbase Custody uses Proprietary cold storage key management, and Copper uses MPC-based custody.