Fidelity Digital Assets
Qualified CustodianFidelity Digital Assets is the crypto arm of Fidelity Investments, one of the world's largest asset managers ($14T+ AUM across the firm). Provides institutional custody and trading for Bitcoin and Ethereum, and custodies the Fidelity Wise Origin Bitcoin Fund (FBTC).
Quick Verdict
With a Custody Score of 8.4/10, Fidelity Digital Assets is ranked #1 of 11 among qualified custodian providers. Its strongest category is Regulatory and its weakest is Counterparty Diversification.
Analysis
Score Breakdown
The Custody Score is a weighted average across 8 criteria, each rated 1-10.
| Criterion | Score | Weight | Weighted |
|---|---|---|---|
| Security | 9.5 | 20% | 1.90 |
| Insurance | 9.5 | 15% | 1.43 |
| Regulatory | 10 | 15% | 1.50 |
| Fee Transparency | 5 | 10% | 0.50 |
| Track Record | 9 | 15% | 1.35 |
| Withdrawal Flexibility | 7 | 10% | 0.70 |
| Reporting & Audit | 9 | 10% | 0.90 |
| Counterparty Diversification | 2 | 5% | 0.10 |
| Total | 100% | 8.4 |
Key Features
- ✓Institutional-grade cold storage
- ✓Integration with Fidelity's broader financial ecosystem
- ✓Dedicated institutional trading desk
- ✓Fidelity Wise Origin Bitcoin Fund (FBTC) custody
- ✓24/7 operational support
- ✓Regulatory reporting
Fee Breakdown
| Setup Fee | Contact for pricing |
| Annual Custody Fee | Contact for pricing (competitive institutional rates) |
| Transaction Fee | 1% spread on Fidelity Crypto retail platform |
| Withdrawal Fee | Contact for pricing |
| Notes | Retail Fidelity Crypto charges 1% spread. Institutional custody pricing is separate and negotiable. |
Security Details
Key Management
HSM-based cold storage
Cold Storage
Vast majority cold
SOC Compliance
SOC 2 Type 2
Penetration Testing
Yes
Incident History: No incidents
Insurance Coverage
Coverage
Up to $1B reported
Carrier
Major insurance carriers
Details
One of the highest insurance coverage amounts in the industry. Exact terms available to institutional clients.
Regulatory Status
Licenses
- New York State Trust Charter (Fidelity Digital Assets, National Association)
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.
Pros & Cons
Pros
- Backed by Fidelity — $14T+ AUM parent company
- Up to $1B insurance coverage — industry-leading
- National trust bank charter (OCC regulated)
- Custodian for FBTC — one of the largest Bitcoin ETFs
- Unmatched institutional credibility
Cons
- Single custodian — same single-point-of-failure risk as others
- Very limited asset support (BTC, ETH only for institutional custody)
- Pricing completely opaque — requires institutional relationship
- Retail platform charges 1% spread (high)
- Institutional-only — not accessible to smaller investors
How Fidelity Digital Assets Compares
Top qualified custodian providers ranked by Custody Score.
| Provider | Custody Score | Compare |
|---|---|---|
| BitGo | 8.2 | Compare → |
| Coinbase Custody | 8.2 | Compare → |
| Anchorage Digital | 7.9 | Compare → |
| Gemini Custody | 7.7 | Compare → |
| Zodia Custody | 7.2 | Compare → |