BitGo

Qualified Custodian

Established Est. 2013

United States

21Rates Quality Score: 8.7/10

BitGo, founded 2013 in Palo Alto, is the leading digital asset custody and wallet provider with $64+ billion AUM, serving 2,000+ institutions in 90+ countries. Pioneered multi-signature wallets and offers qualified custody, trading, and lending services.

BitGo is a multi-jurisdictional institutional Bitcoin custodian founded in 2013, widely credited with pioneering multi-signature cold storage for institutions. It holds 95%+ of assets in cold storage, carries $250M in crime insurance via Lloyd's of London, and operates under trust charters in South Dakota, New York, Germany (BaFin), and Singapore (MAS).

Custody Model

ModelHosted Custody

LicensesSouth Dakota Trust Company charter, NYDFS BitLicense, OCC-regulated qualified custodian

RegulatoryBSA/AML, OFAC compliance, state-regulated trust

JurisdictionUnited States (South Dakota Trust, OCC-regulated)

Fees & Minimums

Fee Structure0.04-0.15% annual custody fee based on AUM tier. Hot wallet: $500/mo base. $50K minimum AUM for institutional custody.

Min Balance$50,000

WithdrawalsConfigurable per-client policy

Security

Cold Storage95%+ cold storage

Insurance$250M insurance policy via Lloyd's of London

Proof of Reserves No

Asset SegregationYes

Multi-Sig Supported

AuditsAnnual SOC 2 audits

Features

API Access Available

Mobile App No

Hardware Wallet Not supported

Institutional Available

Integrated Trading Yes

AssetsBTC, ETH, SOL, XRP, LTC, 700+ digital assets

About BitGo

Best for: Institutions requiring a globally licensed multi-signature custodian with deep insurance coverage and a long operational track record.

BitGo Trust Company was founded in 2013 and is one of the longest-tenured institutional digital asset custodians. Its proprietary multi-signature technology requires multiple independent key holders to authorize transactions, eliminating single points of failure. The vast majority of client assets (95%+) are held in cold storage across geographically distributed vaults. BitGo holds a South Dakota Trust Company charter, a NYDFS BitLicense, and regulated entity licenses in Germany (BaFin) and Singapore (MAS), making it one of the most broadly licensed custodians globally. It carries a base crime insurance policy of $250M via Lloyd's of London, with total capacity reaching $700M through excess layers. The platform undergoes annual SOC 2 Type II audits and supports segregated account structures for institutional clients. BitGo serves over 1,500 institutional clients including exchanges, hedge funds, and family offices, and processes a significant share of global on-chain Bitcoin transaction volume.

Frequently Asked Questions About BitGo

BitGo is a qualified custodian, meaning it is a regulated financial institution authorised to hold client assets. This is important for institutional investors who are legally required to use a qualified custodian under regulations such as the SEC Custody Rule.

BitGo carries the following insurance coverage: $250M insurance policy via Lloyd's of London. Always confirm specific coverage terms, limits, and exclusions directly with BitGo before depositing assets.

BitGo stores 95%+ cold storage of assets in cold storage (offline). Cold storage protects against remote hacking by keeping private keys disconnected from the internet.

BitGo's fee structure: 0.04-0.15% annual custody fee based on AUM tier. Hot wallet: $500/mo base. $50K minimum AUM for institutional custody.. Custody fees are typically charged as an annual basis-point fee on assets under custody or a flat monthly fee.

The minimum balance requirement at BitGo is $50,000. This may vary based on account type and service tier.

About this analysis

21Rates Editorial TeamBitcoin Financial Research Analysts

Our research team analyses Bitcoin custody providers using proprietary quality scoring, regulatory research, and user reviews. We independently verify custody terms and maintain up-to-date information to help you make informed decisions.

Last verified: August 2026