Last checked 31 October 2026. The calculator only adds up the numbers you enter. It does not know any provider's prices. If anything here conflicts with the linked source, the source wins.
The cost of holding bitcoin is more than a provider's fee. A fair comparison adds up hardware, service fees, network fees, insurance and the staff time each model needs. This calculator does that for four common models. Edit any figure and the totals update. Nothing you type leaves your browser.
Shared inputs
Every default on this page is a round number chosen to show how the sum works. None is a quote or a typical price. Replace each one with your own figures.
The company holds all three keys. No service fees, more staff time.
The company holds two keys and a provider holds the third, often with recovery and support included.
The custodian holds the keys. Fees are usually a percentage of value, sometimes with a minimum.
The company holds shares or notes, not bitcoin. The ongoing charge is taken inside the product.
Yearly cost
Reading the result
- Cost is not risk. The cheapest model is not automatically the right one. Each model puts the risk in a different place: on your own processes, on a provider, or on a fund and its custodian. Our custody guide compares them.
- Percentage fees grow with value. Fixed costs such as devices and staff time do not, so the comparison changes as the holding changes.
- Staff time is real. Drills, key changes, payments and year end records all take time. See the recovery drill guide and fees and UTXOs.
- Read the product documents. For a fund, the ongoing charge or expense ratio is set out in its documents. Funds and notes are also different instruments with different protections.
Source: SEC: Updated Investor Bulletin: Exchange-Traded Funds (ETFs), SEC: Investor Bulletin: exchange-traded products providing exposure to bitcoin and ether (September 2024), FCA: FCA opens retail access to crypto ETNs (in force 8 October 2025).
What to ask for when getting quotes
- All fees in writing, including minimums, withdrawal fees and fees on exit.
- What insurance is included, its limit and whether it is shared.
- What support and recovery help is included in the fee.
Our custodian due diligence questionnaire has the full list.
Read next
- Custody options for companies.
- Custodian due diligence questionnaire, free fillable PDF.
- Fees and UTXOs, the network fee side.
Sources
Primary sources only. Each link was checked on 31 October 2026. Rules change, so confirm the current version with your adviser.
- SECUpdated Investor Bulletin: Exchange-Traded Funds (ETFs)
- SECInvestor Bulletin: exchange-traded products providing exposure to bitcoin and ether (September 2024)
- FCAFCA opens retail access to crypto ETNs (in force 8 October 2025)
One email. The whole library.
Policy checklist, board paper, recovery drill record, document pack and the rest, in one send. Then one short Thursday lesson for small companies in the UK and the US.
Free. One email with the whole template library, then one short lesson each Thursday. Unsubscribe at any time. See our privacy notice.
This is general information and education only. It is not financial, investment, tax, accounting, legal or regulatory advice, and it is not a recommendation to buy, sell or hold bitcoin or any other asset. It does not take account of your circumstances or those of your company. You must obtain your own official professional advice to confirm this information is correct before acting on it.
Rules change. This information is correct to our understanding at the last-reviewed date, but it may be incomplete or out of date, and official sources take precedence. Bitcoin is volatile. A company that buys it could lose some or all of the money it puts in.
Using this site does not create an adviser or client relationship. IoT Financial is not authorised or regulated by the Financial Conduct Authority (FCA) and is not registered with the US Securities and Exchange Commission (SEC) as an investment adviser. Read the full disclaimer.