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

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

Verdict

Quick Verdict

Coinbase Custody scores 8.2 vs Gemini Custody's 7.7. Coinbase Custody leads in 4 of 8 categories.

Coinbase Custody is better suited for ETF issuers, Hedge funds, Asset managers. Gemini Custody is better suited for Institutions, Funds, Family offices.

8.2

Very GoodCustody Score

Coinbase Custody

7.7

GoodCustody Score

Gemini Custody

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Coinbase Custody	Gemini Custody	Winner
Security	20%	9.0	8.5	Coinbase Custody
Insurance	15%	8.0	7.0	Coinbase Custody
Regulatory	15%	9.5	9.0	Coinbase Custody
Fee Transparency	10%	7.0	7.5	Gemini Custody
Track Record	15%	8.5	7.0	Coinbase Custody
Withdrawal Flexibility	10%	7.5	7.5	Tie
Reporting & Audit	10%	9.0	9.0	Tie
Counterparty Diversification	5%	2.0	2.0	Tie
Overall Score	100%	8.2	7.7	Coinbase Custody

Visual

Score Radar

Visual overlay of Coinbase Custody and Gemini Custody across all categories.

Coinbase CustodyGemini Custody

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..

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)

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.

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 (9.5 vs 9.0)

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.

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 (7.0 vs 7.5)

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.

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 (8.5 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..

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 (7.5 vs 7.5)

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

Coinbase Custody: SOC compliance is SOC 1 Type 2, 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)

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

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 Coinbase Custody and Gemini Custody.

Fee Type	Coinbase Custody	Gemini Custody
Setup Fee	$10,000 one-time	Contact for pricing
Annual Custody	0.50% AUM (50bps) — tiered for large balances	0.40% AUM annually (40bps) — tiered
Transaction	Varies	Varies by volume
Withdrawal	Network fees + processing fee	Network fees

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

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

Features

Feature Comparison

Checklist of features across both providers.

Feature	Coinbase Custody	Gemini Custody
70+ asset support	✗	✓
Available in all 50 US states	✗	✓
Cold storage custody	✗	✓
Cold storage for 400+ assets	✓	✗
Custodian for major Bitcoin ETFs	✓	✗
Dedicated account management	✓	✗
Hardware security key support (WebAuthn)	✗	✓
Integration with Coinbase Prime for trading	✓	✗
Integration with Gemini exchange	✗	✓
Regulatory reporting and compliance tools	✓	✗
SOC 1 & SOC 2 Type 2 certified	✗	✓
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

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 Coinbase Custody or Gemini Custody better for Bitcoin custody?

Coinbase Custody scores 8.2 vs 7.7 in our weighted Custody Score. Coinbase Custody leads in 4 of 8 scoring categories. However, the best choice depends on your specific needs: Coinbase Custody is best for ETF issuers and Hedge funds, while Gemini Custody suits Institutions and Funds.

What is the difference between Coinbase Custody and Gemini Custody?

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

How do Coinbase Custody and Gemini Custody fees compare?

Coinbase Custody charges 0.50% AUM (50bps) — tiered for large balances annual custody fees with Varies transaction fees. Gemini Custody charges 0.40% AUM annually (40bps) — tiered annual custody fees with Varies by volume transaction fees.

Which is more secure, Coinbase Custody or Gemini Custody?

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