River
Bitcoin Only
Established Est. 2019
United States
21Rates Quality Score: 7.2/10
River Financial (est. 2019, San Francisco) is a Bitcoin-only financial services company offering hosted custody, brokerage, and education with NYDFS license, SOC 2 compliance, and multisig security.
Custody Model
ModelHosted Custody
LicensesFinCEN MSB, state money transmitter licenses
RegulatoryFinCEN BSA/AML, state money transmission laws
JurisdictionUnited States (FinCEN MSB, state-licensed)
Fees & Minimums
Fee StructureNo custody fees. Trading spread of ~1.5%. Auto-DCA available. Collaborative custody at no extra charge.
WithdrawalsBased on account verification tier
Security
Cold Storage100% cold storage for custody
InsuranceFull reserve, no rehypothecation, proof of reserves
Proof of Reserves Yes
Asset SegregationYes (full reserve)
AuditsRegular proof of reserves
Features
API Access Not available
Mobile App Yes
Hardware Wallet Not supported
Institutional Available
Integrated Trading Yes
AssetsBTC only
Frequently Asked Questions About River
River's qualified custodian status is listed as "false". Confirm directly with River about their regulatory status before entrusting assets.
River carries the following insurance coverage: Full reserve, no rehypothecation, proof of reserves. Always confirm specific coverage terms, limits, and exclusions directly with River before depositing assets.
River stores 100% cold storage for custody of assets in cold storage (offline). Cold storage protects against remote hacking by keeping private keys disconnected from the internet.
River's fee structure: No custody fees. Trading spread of ~1.5%. Auto-DCA available. Collaborative custody at no extra charge.. Custody fees are typically charged as an annual basis-point fee on assets under custody or a flat monthly fee.
River does not publicly list a minimum balance. Contact them directly for requirements based on your institution type and asset size.
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