SEC’s Crypto Custody Proposal Could Change How Funds Hold Digital Assets

TL;DR: The SEC has proposed a tailored crypto custody framework for advisers and regulated funds, but the changes are not yet final. The conversation about crypto access inside conventional investment funds is increasingly focused on custody. An SEC proposal released October 1 would modernise parts of the federal rules affecting how registered advisers and regulated funds safeguard digital assets. According to the agency, the planned changes are intended to remove obstacles that prevent advisers from offering some crypto strategies while keeping investor protections. It is an important distinction: proposing a framework does not immediately authorise every fund structure or settle questions about which institutions can qualify as custodians. For investment managers, wallet technology is only part of the problem.

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