Key Takeaways
- • Fortune Business Insights projects the global digital asset custody market to grow from USD 766.4 billion in 2026 to USD 2,879.3 billion by 2034, a CAGR of 18%, up from a 2025 base of USD 675.0 billion.
- • North America held 41.04% of the market in 2025, valued at USD 277.0 billion, with the U.S. projected to reach USD 260.1 billion in 2026 (about 33.94% of global revenues).
- • Cold storage led with a 62.2% share in 2025, while warm storage is forecast to be the fastest-growing segment at an 18.5% CAGR.
- • Cryptocurrencies accounted for 63% of the market in 2025, but tokenized securities are expected to post the highest segment CAGR at 19.3%.
- • Coinbase Global, BitGo Holdings, Anchorage Digital and BNY are identified as leading players; the report flags asset-value volatility and security breaches as the main risks.
Summary
Fortune Business Insights estimates the global digital asset custody market was worth USD 675.0 billion in 2025 and will reach USD 2,879.3 billion by 2034, expanding at an 18% CAGR over the 2026–2034 forecast period. Digital asset custody covers the safekeeping, administration and management of cryptocurrencies, stablecoins, tokenized securities, tokenized real-world assets and tokenized funds for individual and corporate clients, including hot and cold wallet services, transaction authorization, staking, settlement and reporting.
North America dominated the market in 2025 with a 41.04% share, and the U.S. is projected to reach USD 260.1 billion in 2026. Europe is forecast to grow from USD 205.8 billion in 2026 to USD 746.9 billion by 2034, and Asia Pacific is expected to reach USD 191.0 billion in 2026. Japan is projected at USD 33.9 billion in 2026, or 4.43% of global revenues.
The report attributes growth to rising institutional participation, the expansion of spot crypto ETFs and other digital asset investment products, and a shift from self-custody and unregulated custodians toward regulated institutional custodians. Citing CoinShares' Digital Asset Fund Flows report of January 2026, it notes U.S. inflows of about USD 44.5 billion into digital asset investment products in 2025, including USD 26.9 billion into Bitcoin products and USD 12.7 billion into Ethereum products. Citing Coinbase's Q3 2025 shareholder letter, it reports Assets Under Custody of USD 300 billion, with over 80% tied to U.S. Bitcoin and Ethereum ETF assets.
The principal restraint is valuation volatility. Per CoinGecko data cited in the report, global cryptocurrency market capitalization peaked at USD 4.4 trillion in 2025 before falling 23.7% in Q4 to USD 3.0 trillion, and an October 2025 liquidation event wiped out USD 19 billion of leveraged positions. Because custodied assets are priced in market value, downturns reduce reported custody values and may slow institutional allocations. Security is also a challenge: per TRM Labs, the first half of 2026 recorded a record 207 cryptocurrency hacks totaling USD 972 million in losses.
By storage environment, cold storage dominated with a 62.2% share in 2025, using hardware security modules, air-gapped systems and multi-signature authorization. Warm storage, which relies on technologies such as multi-party computation and policy-based controls, is expected to grow fastest at 18.5% CAGR. By asset type, cryptocurrencies held 63% in 2025, while tokenized securities are forecast to grow at 19.3% CAGR. The report cites BNY's August 2025 appointment as investment manager and primary custodian for OpenEden's tokenized U.S. Treasury Bills Fund as an example of institutional custodians supporting tokenized real-world asset structures. Coinbase Global, BitGo Holdings, Anchorage Digital and BNY are named as leading players.
North America dominated the market in 2025 with a 41.04% share, and the U.S. is projected to reach USD 260.1 billion in 2026. Europe is forecast to grow from USD 205.8 billion in 2026 to USD 746.9 billion by 2034, and Asia Pacific is expected to reach USD 191.0 billion in 2026. Japan is projected at USD 33.9 billion in 2026, or 4.43% of global revenues.
The report attributes growth to rising institutional participation, the expansion of spot crypto ETFs and other digital asset investment products, and a shift from self-custody and unregulated custodians toward regulated institutional custodians. Citing CoinShares' Digital Asset Fund Flows report of January 2026, it notes U.S. inflows of about USD 44.5 billion into digital asset investment products in 2025, including USD 26.9 billion into Bitcoin products and USD 12.7 billion into Ethereum products. Citing Coinbase's Q3 2025 shareholder letter, it reports Assets Under Custody of USD 300 billion, with over 80% tied to U.S. Bitcoin and Ethereum ETF assets.
The principal restraint is valuation volatility. Per CoinGecko data cited in the report, global cryptocurrency market capitalization peaked at USD 4.4 trillion in 2025 before falling 23.7% in Q4 to USD 3.0 trillion, and an October 2025 liquidation event wiped out USD 19 billion of leveraged positions. Because custodied assets are priced in market value, downturns reduce reported custody values and may slow institutional allocations. Security is also a challenge: per TRM Labs, the first half of 2026 recorded a record 207 cryptocurrency hacks totaling USD 972 million in losses.
By storage environment, cold storage dominated with a 62.2% share in 2025, using hardware security modules, air-gapped systems and multi-signature authorization. Warm storage, which relies on technologies such as multi-party computation and policy-based controls, is expected to grow fastest at 18.5% CAGR. By asset type, cryptocurrencies held 63% in 2025, while tokenized securities are forecast to grow at 19.3% CAGR. The report cites BNY's August 2025 appointment as investment manager and primary custodian for OpenEden's tokenized U.S. Treasury Bills Fund as an example of institutional custodians supporting tokenized real-world asset structures. Coinbase Global, BitGo Holdings, Anchorage Digital and BNY are named as leading players.
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