Anchorage’s Big Move Into Advice: Why Buying Securitize’s RIA Arm Matters for Crypto Wealth Managers

Quick snapshot: what happened and why it mattered right away

Anchorage Digital has bought Securitize’s registered investment adviser (RIA) platform, a deal that shifts the company from a pure custody and infrastructure play toward the middle of the wealth-management business. The purchase gives Anchorage an existing RIA vehicle, client relationships, and the operational plumbing to offer advice and managed accounts—functions that draw different kinds of revenue and regulatory attention than custody alone. For advisers, family offices and wealth managers who handle crypto for clients, this is a clear sign the industry is trying to move beyond trading and custody into full-service wealth products.

Exactly what changed in the deal — the concrete facts

Anchorage acquired Securitize’s RIA platform, meaning it took ownership of the adviser entity, related client agreements and the back-office systems tied to managing advisory accounts. The public reports did not disclose a purchase price or every contractual detail, which is common for private deals of this size. The transaction is expected to close quickly and will fold the RIA’s staff and compliance operations into Anchorage’s existing teams.

Operationally, the buy gives Anchorage direct control over advisory relationships, rather than relying only on third-party advisers who use Anchorage as a custodian. That changes who signs client agreements, who holds fiduciary duties, and who bills for advisory services. Management has said the move aims to accelerate product rollouts for advisors and wealthy clients who want managed crypto exposure rather than just self-custody or exchange-based holdings.

Why Anchorage likely made this move

There are three simple reasons: product expansion, faster client distribution, and competitive defense. First, advisory platforms let Anchorage sell recurring-fee services—model portfolios, managed accounts and wrap-fee relationships—that bring steadier revenue than custody fees alone. For a company building toward scale, recurring revenue is easier to plan around.

Second, buying an RIA shortcut’s much of the hard work of getting advisers to trust and adopt new crypto products. Securitize’s RIA network already had adviser-facing systems, compliance manuals and client relationships. Anchorage now has a testbed to pilot managed products and to bundle custody with advice, which can make selling to family offices and RIAs simpler.

Third, the competitive landscape is heating up. Traditional custodians and fintech firms are moving into crypto services. By owning an RIA, Anchorage stakes a claim on the adviser channel and can control how products are presented to clients. That’s a defensive play against rivals who might partner with advisers rather than merely serve them as a vendor.

How this could shift markets and the custody landscape

For investors and wealth managers, the practical takeaway is that more professionally managed crypto money could flow into regulated wrappers—managed accounts, model portfolios, and advisory products—rather than into retail exchange wallets. That trend matters for listed firms and service providers: custody demand could become more complex, with increased need for reporting, tax lots, and managed account overlays.

Publicly traded custodians, asset managers and broker-dealers that are visible to stock-market investors could see the shift in demand translate into higher advisory volumes over time. Firms that serve advisers—portfolio accounting vendors, compliance tech providers and fund administrators—may also see higher revenue from the adviser ecosystem as crypto products are wrapped into advisory offerings.

However, flow timing is uncertain. Building trusted advisory products takes time; advisers adopt cautiously, particularly in a space with recurring regulatory questions. In short, the deal raises the likelihood of institutional-grade advisory flows into crypto, but it does not guarantee a sudden wave of assets overnight.

Regulatory and compliance questions this deal raises

Buying an RIA steers Anchorage into a more regulated lane. Custody and advice are covered by different rules and different regulators. As an RIA owner, Anchorage must follow fiduciary standards that govern how advisers manage client assets and disclose conflicts. That could force operational changes in disclosure, billing, and portfolio construction.

Regulators will watch custody arrangements closely. Advisers who recommend crypto products rely on custodians that meet certain safekeeping expectations. Anchorage will need clear processes for segregation of client assets, independent verification of holdings, and robust reconciliation—areas where examiners and clients alike expect strict controls. If Anchorage has any banking charter ambitions or interacts with regulated deposit-taking institutions, those conversations will layer on further scrutiny about how custody and advisory services are separated.

Finally, compliance headaches are real: adviser-client contracts, custody agreements, and crypto-specific risk disclosures will need careful alignment. Any misstep could create enforcement risk that affects both the advisory business and the broader custody franchise.

What advisers and clients should watch next

Advisers and clients should expect a phased integration. In the near term, Anchorage will likely run the acquired RIA as a distinct unit while migrating systems and compliance processes. Look for announcements about specific managed products, fee schedules, and how custody and advisory fees will be presented to clients.

Key watchpoints: whether Anchorage maintains clear firewalls between advisory decision-making and custody operations; how it prices bundled services; and how quickly it recruits advisers to use its managed offerings. Integration risks include staff turnover, mismatched compliance standards, and delays in systems integration—all common when a custody provider purchases an advisory platform.

For investors keeping score, this is a meaningful strategic step. It does not guarantee immediate asset inflows, but it does make Anchorage a more complete player in the wealth market. For advisers, it signals a maturing industry where custody vendors are aiming to own more of the client relationship—and where choosing a custodian increasingly means choosing a partner in advice as well as safekeeping.

Sources

• coindesk.com