BitGo vs Fidelity Digital Assets

BitGo4.5/5

VS

Fidelity Digital Assets3.5/5

Feature	BitGoVisit	Fidelity Digital AssetsVisit
Ratings
Our score	4.5/5	3.5/5
User rating	No reviews yet	No reviews yet
Security	4.5	4.0
Compliance	4.5	4.5
Asset support	4.5	2.0
Features	4.5	3.0
Support	4.5	3.5
Specs
KYC required	Yes	Not disclosed
Custody model	Qualified custodian, Multi-sig, MPC, HSM, Self-custody software	Qualified custodian
Clients	Institutions, Funds, Corporates, High-net-worth, Retail	Institutions, Funds, Corporates, High-net-worth, Retail
Regulated	Yes	Yes
SOC 2 report	Yes	Yes
Insurance	Up to $250M for assets where BitGo Bank & Trust holds all keys (Lloyd's of London and European market syndicate)	Not disclosed
Assets supported	1,770	Not disclosed
Staking	Yes	Not disclosed
API access	Yes	Not disclosed
Licenses & charters	OCC national trust bank charter (US), NYDFS limited purpose trust charter (US), FinCEN MSB registration and state MTLs (US), SEC broker-dealer registration (US), BaFin MiCA CASP authorization (Germany), VQF SRO membership under FINMA oversight (Switzerland), VARA custody license (Dubai, UAE), VARA broker-dealer license (Dubai, UAE), MAS Major Payment Institution license (Singapore), FINTRAC foreign MSB registration (Canada)	OCC national trust bank charter (US), FCA MLR cryptoasset registration (UK)
MPC	Yes	Not disclosed
Cold storage	Yes	Yes
Qualified custodian	Yes	Not disclosed
Company
Founded	2013	2018
Headquarters	United States	United States
Investors	Valor Equity Partners, Redpoint Ventures, Public, Galaxy Digital +1	Not disclosed
Strengths and weaknesses
Pros	Up to $250M insurance from a Lloyd's and European market syndicate where BitGo holds all keys Qualified custody fully backed by cold storage, with over 95% of client assets held cold at the end of 2025 Licensed by the OCC, NYDFS, BaFin under MiCA, Dubai's VARA and Singapore's MAS Over 1,770 supported assets as of December 31, 2025	Custodian is a national trust bank subject to OCC supervision Annual SOC 1 Type II and SOC 2 Type II audits Targets more than 98% of assets in geographically distributed cold storage Trades execute without assets leaving cold storage, with off-exchange settlement for hedge funds
Cons	Material weaknesses in internal control over financial reporting disclosed in its FY2025 10-K Securities class action filed in June 2026, and the Galaxy Digital suit was awaiting a ruling as of August 2026 COO left in October 2026 and the CFO is transitioning out Insurance excludes hot wallets and setups where clients hold keys	Custody and execution listed only for bitcoin, ether and SOL FBTC prospectus says custodian insurance benefits only the custodian Fidelity's own Solana ETF uses outside custodians to hold and stake SOL
Best for	Funds and ETF issuers needing a long asset list and published insurance, Global firms that want licensed entities in the US, EU, Dubai and Singapore, Exchanges and fintechs building wallets on an API	RIAs and wealth managers adding bitcoin or ether to client portfolios, Pensions, endowments and corporate treasurers that require a bank-chartered custodian, Hedge funds that want off-exchange settlement while assets stay in cold storage

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