In 2021, institutional crypto custodians attracted more than $3.4 billion

In 2021, institutional-focused cryptocurrency custody services attracted $3.42 billion in investments, according to The Block.

A substantial portion of the sum came from several financing rounds, including:

• Copper — $50 million and $25 million;
• Fireblocks — $310 million;
• Ledger — $380 million;
• Anchorage —  $350 million;
• NYDIG — $1 billion.

The Block Research researchers Carlos Reyes and Greg Lim believe that such inflows will have consequences for the sector.

“Investments in digital asset custody are likely to bear fruit in 2022 in the form of expanded service offerings and ongoing innovations in technologies,” the experts noted.

They believe growth in the segment will continue as traditional financial institutions such as BBVA, BNY Mellon and US Bank enter it, and offer a greater range of services.

Earlier reports indicated that Copper planned to raise $500 million.

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