Fidelity Digital Assets vs Gemini Custody — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Fidelity Digital Assets scores 8.4 vs Gemini Custody's 7.7. Fidelity Digital Assets leads in 4 of 8 categories.

Fidelity Digital Assets is better suited for Institutional investors, RIAs, Family offices. Gemini Custody is better suited for Institutions, Funds, Family offices.

8.4

Very GoodCustody Score

Fidelity Digital Assets

7.7

GoodCustody Score

Gemini Custody

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Fidelity Digital Assets	Gemini Custody	Winner
Security	20%	9.5	8.5	Fidelity Digital Assets
Insurance	15%	9.5	7.0	Fidelity Digital Assets
Regulatory	15%	10.0	9.0	Fidelity Digital Assets
Fee Transparency	10%	5.0	7.5	Gemini Custody
Track Record	15%	9.0	7.0	Fidelity Digital Assets
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%	8.4	7.7	Fidelity Digital Assets

Visual

Score Radar

Visual overlay of Fidelity Digital Assets and Gemini Custody across all categories.

Fidelity Digital AssetsGemini 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)

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.

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 (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.

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)

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.

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 (5.0 vs 7.5)

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.

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 (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.

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)

Fidelity Digital Assets withdrawal fees: Contact for pricing. Minimum account: Institutional only — contact for details. Supported assets: Bitcoin, Ethereum.

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

Reporting & Audit (9.0 vs 9.0)

Fidelity Digital Assets: 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)

Fidelity Digital Assets is a qualified custodian provider. Key management: Proprietary cold storage using HSMs in secure, geographically distributed facilities..

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 Fidelity Digital Assets and Gemini Custody.

Fee Type	Fidelity Digital Assets	Gemini Custody
Setup Fee	Contact for pricing	Contact for pricing
Annual Custody	Contact for pricing (competitive institutional rates)	0.40% AUM annually (40bps) — tiered
Transaction	1% spread on Fidelity Crypto retail platform	Varies by volume
Withdrawal	Contact for pricing	Network fees

Fidelity Digital Assets: Retail Fidelity Crypto charges 1% spread. Institutional custody pricing is separate and negotiable.

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

Features

Feature Comparison

Checklist of features across both providers.

Feature	Fidelity Digital Assets	Gemini Custody
24/7 operational support	✓	✗
70+ asset support	✗	✓
Available in all 50 US states	✗	✓
Cold storage custody	✗	✓
Dedicated institutional trading desk	✓	✗
Fidelity Wise Origin Bitcoin Fund (FBTC) custody	✓	✗
Hardware security key support (WebAuthn)	✗	✓
Institutional-grade cold storage	✓	✗
Integration with Fidelity's broader financial ecosystem	✓	✗
Integration with Gemini exchange	✗	✓
Regulatory reporting	✓	✗
SOC 1 & SOC 2 Type 2 certified	✗	✓

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)

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 Fidelity Digital Assets or Gemini Custody better for Bitcoin custody?

Fidelity Digital Assets scores 8.4 vs 7.7 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 Gemini Custody suits Institutions and Funds.

What is the difference between Fidelity Digital Assets and Gemini Custody?

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

How do Fidelity Digital Assets and Gemini Custody 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. Gemini Custody charges 0.40% AUM annually (40bps) — tiered annual custody fees with Varies by volume transaction fees.

Which is more secure, Fidelity Digital Assets or Gemini Custody?

Fidelity Digital Assets scores 9.5/10 for security while Gemini Custody scores 8.5/10. Fidelity Digital Assets uses HSM-based cold storage key management, and Gemini Custody uses HSM-based cold storage.