Anchorage Digital vs Gemini

Head-to-head Bitcoin custodian comparison - qualified status, insurance, cold storage, and fees

Quick Answer

Anchorage Digital and Gemini are both qualified custodians. Gemini publishes a $200M insurance policy; Anchorage Digital does not disclose a figure.

Anchorage Digital

Hosted Custody

QualifiedYes

InsuranceLloyd's of London comprehensive policy

Cold Storage95%+ cold storage

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Gemini

Hosted Custody

QualifiedYes

Insurance$200M+ insurance pool via Nakamoto Ltd (captive insurer)

Cold Storage95%+ cold storage

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At a Glance

Qualified Custodian

Tied

More Insurance

Not stated

More Cold Storage

Tied

Lower Fee

Not stated

Full Comparison

Metric	Anchorage Digital	Gemini
Qualified Custodian	Yes Tie	Yes Tie
Insurance Coverage	Lloyd's of London comprehensive policy	$200M+ insurance pool via Nakamoto Ltd (captive insurer)
Cold Storage	95%+ cold storage Tie	95%+ cold storage Tie
Proof of Reserves	No Tie	No Tie
Custody Fee	Custom enterprise pricing based on AUM. Custody, trading, and staking fees quoted individually. Minimum $500K AUM.	0.04-0.10% annual custody fee. $200K minimum AUM. Includes SOC 2 compliance and $200M insurance pool.
Minimum Balance	$500,000	$200,000 for custody Winner
Audit Frequency	Annual SOC audits Tie	Annual SOC 2, regular NYDFS examinations Tie
Custody Model	Hosted Custody	Hosted Custody
Asset Segregation	Yes	Yes
Licenses	OCC Federal Charter (first crypto-native), BSA/AML compliant, SOC 2 Type II	NYDFS-chartered limited purpose trust company
Jurisdiction	United States (OCC-chartered federal bank)	United States (NYDFS-regulated)
Quality Score	8.2 Winner	7.9
Multi-Sig Support	Yes Winner	No
Hardware Wallet Support	No Tie	No Tie
Institutional Services	Yes Tie	Yes Tie
API Access	Yes Winner	No
Mobile App	Yes Tie	Yes Tie
KYC Required	Yes	Yes
Bitcoin Only	No	No
Supported Assets	BTC, ETH, SOL, AVAX, DOT, MATIC, 40+ digital assets	BTC, ETH, SOL, DOGE, LTC, 100+ digital assets
Withdrawal Limits	Custom per-client limits	Custom institutional limits
Established	2017	2014

Frequently Asked Questions

What is the difference between Anchorage Digital and Gemini?

Both run a hosted custody custody model. Both are qualified custodians. Anchorage Digital is regulated in United States (OCC-chartered federal bank); Gemini in United States (NYDFS-regulated).

Which has more insurance coverage, Anchorage Digital or Gemini?

Gemini discloses $200M of coverage. Anchorage Digital does not publish a comparable figure, so the two cannot be ranked on policy size.

Is Anchorage Digital or Gemini a qualified custodian?

Yes. Both Anchorage Digital and Gemini are qualified custodians, meaning each is a chartered bank, trust company, or broker-dealer legally permitted to hold client assets on behalf of institutions.

Can I use both Anchorage Digital and Gemini?

Yes. Splitting holdings across two custodians is a common way to limit exposure to any single provider's failure, and some institutions are required to diversify custody. The trade-off is two sets of fees, two onboarding and compliance processes, and two operational relationships to monitor.

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Custodian details (qualified status, insurance, cold storage, audit cadence, and fees) are sourced from provider disclosures and public regulatory filings, and reviewed by the 21Rates team.

Data as of May 1, 2026.

This comparison is for informational purposes only and does not constitute financial or investment advice. Insurance coverage is typically pooled across all clients rather than allocated per account, and policy terms, limits, and exclusions vary. Confirm current terms directly with each provider before depositing assets.