Total market cap of digital asset ETFs crossed $184 billion. ICE detailed custody risks and safeguards for sponsors in a new white paper.
The total market value of digital asset exchange-traded funds has climbed past $184 billion, according to data cited by Intercontinental Exchange. The milestone reflects three years of steady growth in demand for regulated crypto exposure.
ICE published a white paper that examines custody risks for the digital assets held by these ETFs. The paper said theft or unauthorized access is a distinct threat that traditional securities custody models do not fully address. ICE's AlphaScore stands at 53 out of 100, a neutral reading.
The firm's ICE Digital Trust, a New York-chartered trust company, acts as a qualified custodian under the Investment Advisers Act of 1940. The white paper said sponsors should look for custodians that isolate private keys with multiple authorization layers, requiring sequential approvals for any asset movement. Such controls reduce the chance of a single employee or system failure losing the assets.
The overall cryptocurrency market is worth more than $2 trillion, the paper noted. ETFs have become a popular entry point for investors, prompting issuers to launch products that target different risk profiles. The paper said the pace of new product launches will increase the importance of institutional-grade custody.
The $184 billion figure covers bitcoin and ether, among other digital tokens. ICE Digital Trust's charter and process controls are designed to meet the fiduciary standards ETF sponsors owe their shareholders.
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