Fidelity Digital Assets vs Copper — Head-to-Head Custody Comparison
An independent, data-driven comparison of Fidelity Digital Assets and Copper across security, insurance, fees, regulatory compliance, and more.
Verdict
Quick Verdict
Fidelity Digital Assets scores 8.4 vs Copper's 7.1. Fidelity Digital Assets leads in 5 of 8 categories.
Fidelity Digital Assets is better suited for Institutional investors, RIAs, Family offices. Copper is better suited for Institutions, Hedge funds, Trading firms.
Scores
Score Comparison
Weighted scores across all 8 custody criteria.
| Criterion | Weight | Fidelity Digital Assets | Copper | Winner |
|---|---|---|---|---|
| Security | 20% | 9.5 | 8.5 | Fidelity Digital Assets |
| Insurance | 15% | 9.5 | 7.0 | Fidelity Digital Assets |
| Regulatory | 15% | 10.0 | 7.5 | Fidelity Digital Assets |
| Fee Transparency | 10% | 5.0 | 5.0 | Tie |
| Track Record | 15% | 9.0 | 7.0 | Fidelity Digital Assets |
| Withdrawal Flexibility | 10% | 7.0 | 7.5 | Copper |
| Reporting & Audit | 10% | 9.0 | 7.5 | Fidelity Digital Assets |
| Counterparty Diversification | 5% | 2.0 | 3.0 | Copper |
| Overall Score | 100% | 8.4 | 7.1 | Fidelity Digital Assets |
Visual
Score Radar
Visual overlay of Fidelity Digital Assets and Copper 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 8.5)
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.
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 (9.5 vs 7.0)
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.
Copper offers Insurance coverage available via Lloyd's market. Institutional custody insurance available.
Regulatory (10.0 vs 7.5)
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.
Copper holds UK regulatory permissions pending and is not a qualified custodian operating in United Kingdom. UK-based. Seeking full FCA authorization.
Fee Transparency (5.0 vs 5.0)
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.
Copper charges Custom in annual custody fees with Custom per transaction. Enterprise pricing. ClearLoop reduces counterparty risk for trading.
Track Record (9.0 vs 7.0)
Fidelity Digital Assets was founded in 2018 and is headquartered in Boston, MA. AUM: Not publicly disclosed (Fidelity overall: $14T+). Incident history: No incidents.
Copper was founded in 2018 and is headquartered in London, UK. AUM: Not publicly disclosed. Incident history: No incidents.
Withdrawal Flexibility (7.0 vs 7.5)
Fidelity Digital Assets withdrawal fees: Contact for pricing. Minimum account: Institutional only — contact for details. Supported assets: Bitcoin, Ethereum.
Copper withdrawal fees: Network fees. Minimum account: Institutional only. Supported assets: Bitcoin, Ethereum, 400+ assets.
Reporting & Audit (9.0 vs 7.5)
Fidelity Digital Assets: SOC compliance is 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)
Fidelity Digital Assets is a qualified custodian provider. Key management: Proprietary cold storage using HSMs in secure, geographically distributed facilities..
Copper is a qualified custodian provider. Key management: MPC-based custody. ClearLoop off-exchange settlement..
Fees
Fee Comparison
Side-by-side fee breakdown for Fidelity Digital Assets and Copper.
| Fee Type | Fidelity Digital Assets | Copper |
|---|---|---|
| Setup Fee | Contact for pricing | Custom institutional pricing |
| Annual Custody | Contact for pricing (competitive institutional rates) | Custom |
| Transaction | 1% spread on Fidelity Crypto retail platform | Custom |
| Withdrawal | Contact for pricing | Network fees |
Fidelity Digital Assets: Retail Fidelity Crypto charges 1% spread. Institutional custody pricing is separate and negotiable.
Copper: Enterprise pricing. ClearLoop reduces counterparty risk for trading.
Features
Feature Comparison
Checklist of features across both providers.
| Feature | Fidelity Digital Assets | Copper |
|---|---|---|
| 24/7 operational support | ✓ | ✗ |
| 400+ asset support | ✗ | ✓ |
| ClearLoop off-exchange trading | ✗ | ✓ |
| DeFi access from custody | ✗ | ✓ |
| Dedicated institutional trading desk | ✓ | ✗ |
| Fidelity Wise Origin Bitcoin Fund (FBTC) custody | ✓ | ✗ |
| Global institutional service | ✗ | ✓ |
| Institutional-grade cold storage | ✓ | ✗ |
| Integration with Fidelity's broader financial ecosystem | ✓ | ✗ |
| MPC-based key management | ✗ | ✓ |
| Policy engine | ✗ | ✓ |
| Regulatory reporting | ✓ | ✗ |
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)
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 Fidelity Digital Assets or Copper better for Bitcoin custody?
Fidelity Digital Assets scores 8.4 vs 7.1 in our weighted Custody Score. Fidelity Digital Assets leads in 5 of 8 scoring categories. However, the best choice depends on your specific needs: Fidelity Digital Assets is best for Institutional investors and RIAs, while Copper suits Institutions and Hedge funds.
What is the difference between Fidelity Digital Assets and Copper?
Fidelity Digital Assets is a qualified custodian provider, while Copper is a qualified custodian provider. Fidelity Digital Assets excels in Regulatory, whereas Copper is strongest in Security.
How do Fidelity Digital Assets and Copper 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. Copper charges Custom annual custody fees with Custom transaction fees.
Which is more secure, Fidelity Digital Assets or Copper?
Fidelity Digital Assets scores 9.5/10 for security while Copper scores 8.5/10. Fidelity Digital Assets uses HSM-based cold storage key management, and Copper uses MPC-based custody.
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