I don't want no freedom

Institutional investors shun self-custodial crypto solutions, PwC report finds

The PwC and Aspen Digital study shows growing demand for institutional-grade digital asset custody solutions in Asia among family offices, high-net-worth individuals and external asset managers.

The joint report released by the digital asset wealth platform Aspen Digital and “big four” global accounting firm PwC today: here (doc).

The key finding is the "I have no idea what I'm doing, but I want to be in the game and get rich, and I always pay somebody else to do this for me" syndrome.

This is, of course, a play on making self-custody more difficult for the average prole. The topsy-turvy logic is that custodians equate to safety, and hence self-custody is like waving your wallet around in a crowded market.

Not that asset managers are not prone to losing money, but that's OK, that's part of the game - you have someone to blame. And that's the key, a custodian is an insurance policy.