Kraken
Qualified Custodian
Established Est. 2011
United States
21Rates Quality Score: 7.5/10
Kraken, founded 2011 in San Francisco, is a leading Bitcoin custody provider offering secure storage and management with institutional-grade security and regulatory compliance.
Custody Model
ModelHosted Custody
LicensesState money transmitter licenses, Wyoming SPDI charter (via subsidiary)
RegulatoryFinCEN MSB, state MTL licenses, BSA/AML compliance
JurisdictionUnited States (state-licensed)
Fees & Minimums
Fee StructureNo custody fees for exchange-held assets. Trading: 0.00-0.26% maker/taker. Institutional OTC available.
Min BalanceNone for standard, custom for institutional
WithdrawalsTier-based, up to $10M+/day for verified
Security
Cold Storage95%+ cold storage
InsuranceIndustry-leading security reserves, proof of reserves published
Proof of Reserves Yes
Asset SegregationYes
AuditsRegular proof of reserves, annual SOC 2
Features
API Access Not available
Mobile App Yes
Hardware Wallet Not supported
Institutional Available
Integrated Trading Yes
AssetsBTC, ETH, SOL, DOT, ADA, XRP, 200+ digital assets
Frequently Asked Questions About Kraken
Kraken 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.
Kraken carries the following insurance coverage: Industry-leading security reserves, proof of reserves published. Always confirm specific coverage terms, limits, and exclusions directly with Kraken before depositing assets.
Kraken stores 95%+ cold storage of assets in cold storage (offline). Cold storage protects against remote hacking by keeping private keys disconnected from the internet.
Kraken's fee structure: No custody fees for exchange-held assets. Trading: 0.00-0.26% maker/taker. Institutional OTC available.. 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 Kraken is None for standard, custom for institutional. 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