Does a Crypto ETF Change Your Risk or Just Who Holds It?

Key Takeaways Binance estimated its October breach at $6.3 billion ARKB custodians’ $685 million insurance covers all clients Coinbase Custody liability capped at $100M per address Coinbase says it custodies 80%-plus of ETF assets In a November 5 analysis , Wei Wayne Miao, chief legal officer of 21Shares US, argued that registered vehicles built around qualified custodians and segregated assets can give investors stronger legal protection than an account at a trading venue. 21Shares US sponsors the ARK 21Shares Bitcoin ETF (ARKB), so that fund’s own filings are the most direct place to test the argument.