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

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Fidelity Digital Assets's 8.4. Onramp leads in 3 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Fidelity Digital Assets is better suited for Institutional investors, RIAs, Family offices.

8.7

Very GoodCustody Score

Onramp

8.4

Very GoodCustody Score

Fidelity Digital Assets

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Fidelity Digital Assets	Winner
Security	20%	9.5	9.5	Tie
Insurance	15%	9.0	9.5	Fidelity Digital Assets
Regulatory	15%	8.5	10.0	Fidelity Digital Assets
Fee Transparency	10%	7.5	5.0	Onramp
Track Record	15%	8.0	9.0	Fidelity Digital Assets
Withdrawal Flexibility	10%	8.5	7.0	Onramp
Reporting & Audit	10%	8.5	9.0	Fidelity Digital Assets
Counterparty Diversification	5%	10.0	2.0	Onramp
Overall Score	100%	8.7	8.4	Onramp

Visual

Score Radar

Visual overlay of Onramp and Fidelity Digital Assets across all categories.

OnrampFidelity Digital Assets

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 9.5)

Onramp uses Multi-institution distributed key management with Varies by underlying custodian in cold storage and regular penetration testing. Compliance: Via underlying custodians (SOC 1 & SOC 2). Incident history: No incidents.

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.

Insurance (9.0 vs 9.5)

Onramp offers Aggregate coverage across multiple custodian insurance policies via Multiple (via underlying custodians). Each underlying custodian maintains their own insurance. Combined coverage exceeds single-custodian limits.

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.

Regulatory (8.5 vs 10.0)

Onramp holds State money transmitter licenses and is a qualified custodian operating in United States. Regulated through underlying custodian partnerships with qualified custodians

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.

Fee Transparency (7.5 vs 5.0)

Onramp charges Contact for pricing in annual custody fees with 0.50% per trade (brokerage) per transaction. Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card

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.

Track Record (8.0 vs 9.0)

Onramp was founded in 2021 and is headquartered in Austin, TX. AUM: $1B+. Incident history: No incidents.

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

Withdrawal Flexibility (8.5 vs 7.0)

Onramp withdrawal fees: Contact for pricing. Minimum account: $100,000. Supported assets: Bitcoin.

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

Reporting & Audit (8.5 vs 9.0)

Onramp: SOC compliance is Via underlying custodians (SOC 1 & SOC 2). As a qualified custodian, it meets SEC reporting requirements.

Fidelity Digital Assets: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.

Counterparty Diversification (10.0 vs 2.0)

Onramp is a multi-institution custody provider. Key management: Multi-institution distributed custody — keys and assets spread across multiple independent regulated custodians (BitGo, Coinbase, Fidelity, etc.).

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

Fees

Fee Comparison

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

Fee Type	Onramp	Fidelity Digital Assets
Setup Fee	Contact for pricing	Contact for pricing
Annual Custody	Contact for pricing	Contact for pricing (competitive institutional rates)
Transaction	0.50% per trade (brokerage)	1% spread on Fidelity Crypto retail platform
Withdrawal	Contact for pricing	Contact for pricing

Onramp: Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card

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

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Fidelity Digital Assets
1.5% cashback card	✓	✗
24/7 operational support	✗	✓
5% APY on cash balances	✓	✗
Bitcoin brokerage services (Onramp Finance)	✓	✗
Dedicated institutional trading desk	✗	✓
Fidelity Wise Origin Bitcoin Fund (FBTC) custody	✗	✓
Institutional-grade cold storage	✗	✓
Institutional-grade security and compliance	✓	✗
Integration with Fidelity's broader financial ecosystem	✗	✓
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
Regulatory reporting	✗	✓
White-glove onboarding for institutions	✓	✗

Recommendation

Who Should Choose Which?

Onramp is better if you…

✓Are a family offices
✓Are a rias
✓Are a hnw individuals
✓Are a institutions
✓Want: Only provider offering true multi-institution custody — no single point of failure
✓Want: Aggregated insurance coverage exceeds any single custodian
✓Want: $1B+ in assets under custody demonstrates institutional trust

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)

FAQ

Frequently Asked Questions

Is Onramp or Fidelity Digital Assets better for Bitcoin custody?

Onramp scores 8.7 vs 8.4 in our weighted Custody Score. Onramp leads in 3 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while Fidelity Digital Assets suits Institutional investors and RIAs.

What is the difference between Onramp and Fidelity Digital Assets?

Onramp is a multi-institution custody provider, while Fidelity Digital Assets is a qualified custodian provider. Onramp excels in Counterparty Diversification, whereas Fidelity Digital Assets is strongest in Regulatory.

How do Onramp and Fidelity Digital Assets fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Fidelity Digital Assets charges Contact for pricing (competitive institutional rates) annual custody fees with 1% spread on Fidelity Crypto retail platform transaction fees.

Which is more secure, Onramp or Fidelity Digital Assets?

Onramp scores 9.5/10 for security while Fidelity Digital Assets scores 9.5/10. Onramp uses Multi-institution distributed key management, and Fidelity Digital Assets uses HSM-based cold storage.