A Rise In Wealth Management Activities Fueling The Growth Of The Market Due To Increasing Demand For Secure Digital Asset Storage And Integration Into Traditional Financial Portfolios: Key Factor Driving The Growth In The Digital Asset Custody Market

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What Is the Expected Digital Asset Custody Market Size During the Forecast Period?_x000D_
The market size for digital asset custody has experienced swift growth in the past few years. It is projected to expand from $600.28 billion in 2024 to $709.05 billion in 2025, witnessing a compound annual growth rate (CAGR) of 18.1%. The historical growth can be ascribed to factors such as the growing acceptance of digital assets, heightened worries regarding digital asset security, the escalation in institutional involvement in crypto markets, the augmented regulatory emphasis on asset safeguarding, and the mounting demand for secure key management solutions._x000D_
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The size of the digital asset custody market is predicted to increase significantly in the coming years, reaching a size of $1,366.94 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 17.8%. This anticipated growth during the forecast period is due to factors such as the escalating demand from institutions for compliant custody solutions, the surge in cyber threats necessitating secure storage, the incorporation of digital assets in mainstream finance, advancements in multiparty computation (MPC) tech, and proliferation of tokenized financial instruments. Key trends to track during this forecast period are enhancements in MPC-based safety measures, evolved wallet-as-a-service models, growth of platforms adhering to regulatory compliance, key management solution innovations, and advancement in systems that offer cross-chain custody._x000D_
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What Are the High-Growth Segments in the Digital Asset Custody Market?_x000D_
The digital asset custody market covered in this report is segmented -_x000D_
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1) By Type Of Custody: Hot Wallet Custody, Cold Wallet Custody_x000D_
2) By Asset Type: Cryptocurrencies, Digital Securities, Tokenized Assets, Non-Fungible Tokens (NFTs)_x000D_
3) By Service Type: Custody Services, Trading Services, Reporting And Compliance Services, Risk And Security Management_x000D_
4) By Deployment Type: On-Premises, Cloud-Based_x000D_
5) By End-User: Institutional Investors, Hedge Funds, Asset Managers, Banks, Family Offices, Exchanges And Trading Platforms_x000D_
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Subsegments:_x000D_
1) By Hot Wallet Custody: Exchange-Based Custody, Third-Party Custodial Wallets, Self-Custodial Mobile Wallets, Multi-Signature Hot Wallets, Software-Based Wallet Solutions_x000D_
2) By Cold Wallet Custody: Hardware Wallet Custody, Paper Wallet Custody, Air-Gapped Storage Solutions, Vault Storage, Custodial Cold Storage With Insurance Backing_x000D_
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What Key Drivers Are Expected to Influence Future Digital Asset Custody Market Growth?_x000D_
The surge in wealth management actions is likely to stimulate the expansion of the digital asset custody market in the future. These activities involve providing customised financial services such as investment administration, estate organization, and tax tactics to help people increase and protect their wealth. This surge is due to the escalating number of affluent individuals hiring professionals to supervise and augment their assets. Digital asset custody is crucial in wealth management as it provides safe storage, compliance, and seamless access to digital assets. These facets improve investor trust, encourage portfolio diversification, and enable the incorporation of digital assets into conventional financial services. For example, data from the Investment Association, a trade entity based in the UK representing investment supervisors, stated that the assets managed by the UK investment management industry increased by 3% in August 2024. This rise was from £8.8 trillion ($9.95 trillion) in 2022 to £9.1 trillion ($10.29 trillion). Hence, the thriving wealth management activities are fuelling the expansion of the digital asset custody market._x000D_
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Which Companies Hold the Largest Share Across Different Digital Asset Custody Market Segments?_x000D_
Major companies operating in the digital asset custody market are The Bank of New York Mellon Corporation, Standard Chartered PLC, State Street Corporation, Coinbase Global Inc., Bakkt Holdings Inc., Gemini Trust Company LLC, Fireblocks Inc., Matrixport Technologies Limited, Ledger Enterprise SAS, Sygnum Bank, Clearstream Banking SA, New York Digital Investment Group LLC, Bitcoin Suisse AG, Palisade, Etana Custody Inc., Anchorage Digital Bank NA, Aegis Custody Inc., Fidelity Digital Asset Services LLC, Zodia Custody Limited, Tangany GmbH, Liminal Custody Solutions Pvt Ltd, Komainu_x000D_
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Dominant businesses in the realm of digital asset custody are emphasizing the need for strategic alliances to boost their asset protection level and diminish the likelihood of exposing private keys. Such strategic relationships involve partnerships between companies to leverage their individual strengths and work towards mutual goals. These collaborations not only spur innovation, but also widen market reach and stimulate shared growth without necessitating official mergers. For example, in September 2023, Cobo, a Singaporean firm specializing in digital asset custody technology, entered into a partnership with Antalpha, another Singaporean company providing digital asset tech service platforms for institutional investors. The goal was to incorporate Cobo's revolutionary B2B2C MPC Wallet-as-a-Service (WaaS) solution into Antalpha Prime. The aim of this integration is to augment security and clarity for final investors, allowing them to be directly involved in the transaction signing processes. The solution uses advanced private key sharding and threshold signature schemes (TSS), to guarantee that without the end user's key share, transactions cannot be authorized, hence significantly enhancing asset security._x000D_
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What Are the Emerging Geographies for The Digital Asset Custody Market Growth?_x000D_
North America was the largest region in the digital asset custody market in 2024. The regions covered in the digital asset custody market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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Frequently Asked Questions:_x000D_
1. What Is the Market Size and Growth Rate of the Digital Asset Custody Market?_x000D_
2. What is the CAGR expected in the Digital Asset Custody Market?_x000D_
3. What Are the Key Innovations Transforming the Digital Asset Custody Industry?_x000D_
4. Which Region Is Leading the Digital Asset Custody Market?_x000D_
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