Fidelity Digital Assets vs Hex Trust — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Fidelity Digital Assets scores 8.4 vs Hex Trust's 6.9. Fidelity Digital Assets leads in 5 of 8 categories.

Fidelity Digital Assets is better suited for Institutional investors, RIAs, Family offices. Hex Trust is better suited for Asian institutions, Banks in APAC, Fintech companies.

8.4

Very GoodCustody Score

Fidelity Digital Assets

6.9

FairCustody Score

Hex Trust

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Fidelity Digital Assets	Hex Trust	Winner
Security	20%	9.5	8.0	Fidelity Digital Assets
Insurance	15%	9.5	6.5	Fidelity Digital Assets
Regulatory	15%	10.0	8.0	Fidelity Digital Assets
Fee Transparency	10%	5.0	5.0	Tie
Track Record	15%	9.0	6.5	Fidelity Digital Assets
Withdrawal Flexibility	10%	7.0	7.0	Tie
Reporting & Audit	10%	9.0	7.5	Fidelity Digital Assets
Counterparty Diversification	5%	2.0	3.0	Hex Trust
Overall Score	100%	8.4	6.9	Fidelity Digital Assets

Visual

Score Radar

Visual overlay of Fidelity Digital Assets and Hex Trust across all categories.

Fidelity Digital AssetsHex Trust

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 8.0)

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.

Hex Trust 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 6.5)

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.

Hex Trust offers Insurance coverage available via Not publicly disclosed. Institutional custody insurance.

Regulatory (10.0 vs 8.0)

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.

Hex Trust holds Hong Kong TCSP license, Singapore MAS license and is not a qualified custodian operating in Hong Kong / Singapore / APAC. Licensed in multiple Asian jurisdictions.

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.

Hex Trust charges Custom in annual custody fees with Custom per transaction. Asia-Pacific focused with multi-jurisdiction licensing.

Track Record (9.0 vs 6.5)

Fidelity Digital Assets was founded in 2018 and is headquartered in Boston, MA. AUM: Not publicly disclosed (Fidelity overall: $14T+). Incident history: No incidents.

Hex Trust was founded in 2019 and is headquartered in Hong Kong. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (7.0 vs 7.0)

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

Hex Trust 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.

Hex Trust: 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..

Hex Trust is a qualified custodian provider. Key management: Licensed institutional custody with MPC technology..

Fees

Fee Comparison

Side-by-side fee breakdown for Fidelity Digital Assets and Hex Trust.

Fee Type	Fidelity Digital Assets	Hex Trust
Setup Fee	Contact for pricing	Custom
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.

Hex Trust: Asia-Pacific focused with multi-jurisdiction licensing.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Fidelity Digital Assets	Hex Trust
24/7 operational support	✓	✗
400+ asset support	✗	✓
Bank-grade infrastructure	✗	✓
Dedicated institutional trading desk	✓	✗
Fidelity Wise Origin Bitcoin Fund (FBTC) custody	✓	✗
Institutional-grade cold storage	✓	✗
Integration with Fidelity's broader financial ecosystem	✓	✗
MPC technology	✗	✓
Multi-jurisdiction APAC licensing	✗	✓
Regulatory reporting	✓	✗
Staking and DeFi access	✗	✓
Tokenization 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)

Hex Trust is better if you…

✓Are a asian institutions
✓Are a banks in apac
✓Are a fintech companies
✓Are a fund managers
✓Want: Leading APAC digital asset custodian
✓Want: Multi-jurisdiction licensing
✓Want: SOC 2 Type 2 certified

FAQ

Frequently Asked Questions

Is Fidelity Digital Assets or Hex Trust better for Bitcoin custody?

Fidelity Digital Assets scores 8.4 vs 6.9 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 Hex Trust suits Asian institutions and Banks in APAC.

What is the difference between Fidelity Digital Assets and Hex Trust?

Fidelity Digital Assets is a qualified custodian provider, while Hex Trust is a qualified custodian provider. Fidelity Digital Assets excels in Regulatory, whereas Hex Trust is strongest in Security.

How do Fidelity Digital Assets and Hex Trust 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. Hex Trust charges Custom annual custody fees with Custom transaction fees.

Which is more secure, Fidelity Digital Assets or Hex Trust?

Fidelity Digital Assets scores 9.5/10 for security while Hex Trust scores 8.0/10. Fidelity Digital Assets uses HSM-based cold storage key management, and Hex Trust uses MPC-based custody.