According to a joint report by PwC and Aspen Digital, the digital asset industry peaked at over $3 trillion in November 2021, while the custodial market remained at $447.9 billion in 2022. The report identifies 120 custody service providers, divided into third-party service providers and self-custody solutions.

Institutional investors are showing interest in crypto staking, NFTs, and the Metaverse, but security remains a key challenge for the custody industry. The report recommends a five-step approach for selecting a custody service provider, including mapping the market and reviewing performance.