As Bitcoin enters 2026 with sustained institutional adoption and worth stability following the 2024-2025 bull run, self-custody stays a cornerstone of the asset’s sovereignty promise. But the panorama has advanced considerably. Spot Bitcoin ETFs have unlocked entry to passive traders snug with Wall Road’s “belief me, bro” brokerage fashions, whereas bodily assaults on crypto customers have surged to document ranges, often called “wrench assaults”. So, is self-custody a factor of the previous, a lifeless meme many people fell for, or is it reworking as Bitcoin matures?
In a current interview with Bitcoin Journal, Casa CEO Nick Neuman supplied a candid perspective of those dynamics, positioning his firm’s multisig options as a bridge between the imaginative and prescient of pure self-sovereignty and sensible usability for high-value holders, tailored to take care of trendy safety challenges and even geopolitical threat.
Casa, based in 2018, targets customers securing significant Bitcoin quantities—sometimes 5 figures or extra—the place monetary freedom is extra essential than comfort. Neuman described Casa’s north star as “maximizing sovereignty and safety on the earth” by means of Bitcoin and personal key cryptography. Lately, this has solidified into “constructing the Swiss financial institution for the sovereign particular person”—a service for many who view cash as integral to private autonomy.
Bitcoin Journal has lined the corporate’s progress extensively all through the years, together with a November 2024 interview with Neuman by Frank Corva and a June 2025 story on its partnership with Swiss platform Relai for multisig safety and inheritance planning.
ETFs and the Promise of Comfort
“Not everybody desires to be a sovereign particular person proper now,” Neuman famous when discussing the challenges self-custody faces in 2026, pointing to an more and more apparent actuality: Bitcoin self-custody calls for excessive private duty and a major quantity of technical competence. These stay true regardless of finest efforts in consumer interface design. NVK, the founding father of the Coldcard Q, has joked publicly that making an attempt to design self-custody merchandise able to resisting nation-state intrusions, with “grandma” ranges of ease of use, may be a pipe dream. On the very least, the persona kind and technical competence wanted for optimum self-custody stay a limiting issue on the conclusion of the cypherpunk utopia.
ETFs supply plug-and-play publicity to a brand new and broad userbase, whereas self-custody appeals principally to high-agency customers unwilling to simply accept black-box custodian dangers — and that’s the excellent news, “at scale, you merely can’t afford to belief that Coinbase or anybody else is getting each course of proper,” he mentioned.
Establishments resembling household places of work, companies, custody banks, and funding funds are additionally beginning to perceive the dangers of outsourcing Bitcoin custody. Neuman revealed that “More and more over the past yr, Casa helps giant establishments that have to have provable safety and provable management to safe their belongings,” including that establishments “are beginning to notice that in a number of methods regulators are requiring them to have precise management over this asset.”
In 2025, for instance, the OCC clarified that nationwide banks and federal financial savings associations have the freedom to custody crypto belongings for shoppers, including the caveat that “As with every exercise, a financial institution should conduct crypto-asset custody actions, together with through a sub-custodian, in a protected and sound method and in compliance with relevant regulation”. The GENIUS Act supplied additional construction by giving the inexperienced gentle to full reserve Stablecoins in U.S. monetary markets.
The SEC’s January 2025 rescission of SAB 121 (through SAB 122) eliminated capital penalties for crypto custody, making it extra sensible for banks. Some banks publicly recognized to be growing unbiased crypto custody platforms for his or her customers embody BNY Mellon, State Road, Citi, and JPMorgan. That is in distinction to outsourcing all custody to the most well-liked custodians like Coinbase, which some fear poses systemic dangers to the Bitcoin community and its traders.
Neuman factors out that self-custody multi-signature platforms like Casa deal with the considerations and desires of institutional gamers. Multisig requires a number of keys to signal a legitimate transaction, but in addition allows key rotations for personnel adjustments, with added auditability. “If somebody who managed a key leaves, you possibly can rotate that key out utterly… We make that course of simple, and for establishments, we’ve added further guardrails, auditability, and visibility,” mentioned Neuman.
On account of this rising development, we would quickly begin to see a wave of competitors in retail dealing with custodial bank-like companies within the U.S., whereas institutional gamers would possibly start to decouple from the plug-and-play custody outsourcing we have now seen to date, a step in direction of custody decentralization of Bitcoin.
Defeating Wrench Assaults
Bodily coercion assaults—often called “$5 wrench assaults”—reached unprecedented ranges in 2025. Jameson Lopp, Casa’s chief safety officer, maintained a decade-long database, documenting roughly 65–70 incidents, the best on document, with a minimum of 4 fatalities. Alena Vranova, co-founder of Trezor, now working a wrench assault prevention startup known as Glok.me, locations the quantity at 292, breaking down the info into varied classes.
France emerged as a hotspot, with a minimum of 10 reported wrench assaults in 2025, usually linked to tax reporting, probably exposing addresses and identities, together with a case the place a tax official was convicted for promoting taxpayer knowledge to criminals. The US is main the pack in complete numbers of recognized crypto-related assaults.
Nonetheless, it is very important weigh knowledge of this type with a grain of salt. It ought to be thought-about on a per capita foundation, as international locations just like the U.S. have near 400 million residents in comparison with France with round 70 million. Comparisons to fiat fraud like identification theft and different types of violent crime are sometimes not included in these kind statistics. It’s however an alarming development and a typical speaking level, giving crypto customers pause when deciding to take self-custody.
Neuman believes, nevertheless, that the general public is misunderstanding the issue at hand, pondering that giving custody to a 3rd occasion is definitely the answer; it’s not. He shared a non-violent case that challenges this “simply use a custodian” narrative: A Casa shopper was drugged and coerced at a bar. Funds in Casa’s multisig stayed safe because of dispersed keys — the consumer didn’t have sufficient keys on him to signal a transaction — however a small Coinbase stability was drained from the shopper’s telephone app. “It simply utterly flips the prevailing knowledge,” Neuman famous, “Really, that doesn’t at all times clear up the issue.”
Finest practices on this entrance revolve round not changing into a goal within the first place, as in not changing into an influencer flaunting crypto wealth. But it surely additionally means not exposing knowledge that reveals you might have crypto wealth, a privateness threat legacy finance is especially susceptible to, as seen by the unbelievable rise in monetary knowledge hacks and identification theft. Although {hardware} pockets producers like Ledger have suffered a number of cost infrastructure-related hacks which have resulted in consumer knowledge being compromised, placing customers in danger.
Casa counters bodily threats of this type with multisig key distribution, making it in order that customers shouldn’t have sufficient entry to their Bitcoin to have the ability to ship all of it below duress. The app additionally consists of an emergency lockdown characteristic, and the restoration key Casa holds in these multi-sig accounts gained’t co-sign a transaction with out correct authentication. Customers can configure their Casa service to require video verifications and pre-arranged duress procedures. “When you have used our product appropriately and adopted our steerage, you will be assured that the attacker a minimum of gained’t get your cash,” Neuman defined.
Casa’s pseudonymous assist—permitting customers to keep away from sharing names, faces, or areas—attracts from Lopp’s personal experiences, together with being swatted, and is embedded within the firm’s privacy-focused DNA.
Geopolitical Hedge
The brokerage mannequin of Bitcoin custody, resembling ETFs, additional insulates customers from organized crime varieties of wrench assaults, however introduces new dangers like rehypothecation – sale of faux shares or under-collateralized paper Bitcoin. Moreover, Neuman factors out that criminals might nonetheless come after ETF customers, pondering they’ve self-custody bitcoin as properly, “it doesn’t actually clear up the issue of you getting harm.” ETFs are additionally susceptible to politically motivated persecution.
Casa has noticed this particular use case, which it refers to as a geopolitical hedge, the place political operatives or influencers shield their wealth from the present political administration of their international locations, in instances once they discover themselves on the again foot. “Proper now, we see that Democrats are frightened in regards to the Trump administration confiscating their cash… However 4 years in the past… we had individuals who have been Republicans doing the very same factor,” Neuman defined.
Purchasers of this type arrange Bitcoin wallets which are outdoors of the rapid attain of the present administration, by, for instance, giving a key to a regulation agency outdoors of the nation, positioned in international protected deposit packing containers, with trustees, or members of the family, guaranteeing mobility if home belongings are frozen. Casa’s restoration key additionally gives on a regular basis usability with out frequent journey, with guide authentication of the consumer. Bitcoin, on this instance, serves as an answer to what you would possibly as properly name a nation-state-level wrench assault.
Self-Custody Insurance coverage
A brand new era of insurance coverage has additionally emerged to serve Bitcoin holders who take self-custody. Particularly, firms like AnchorWatch and Bitsurance shield consumer wealth as much as sure limits backed by giants like Lloyd’s of London. If a consumer does get kidnapped, they will probably surrender their insured cash, minimizing hurt to themselves, after which name their insurer, who may have a powerful incentive to stop that from occurring.
Neuman acknowledged the innovation however highlighted limitations: “When lots of people take into consideration insurance coverage with their self-custody, they’re eager about… inexpensive insurance coverage… And that simply doesn’t exist.” Broad protection usually requires transaction approvals, growing supplier reliance—a compromise many sovereign customers reject. Casa, however, has explored partnerships with this rising insurance coverage business.
The Self-Custody Specialist
the shopper advisory position in bitcoin self-custody, specialised workforce, story or two? quote. ledger display story rofl.
Casa has additionally developed a specialised advisory workforce, targeted on serving its shopper base with instruments the corporate developed. Advisors full a six-month coaching program, shadowing specialists who serve shoppers in emergency conditions, in addition to reply regular questions and educate their customers. “Our advisors carry humanity to Bitcoin, and so they carry humanity to serving to you be a sovereign particular person… that’s actually invaluable on this world of don’t belief confirm,” Neuman mentioned.
Purchasers reward advisors by title. A current Bitcoin pockets rescue mission by Casa saved 100 BTC for a pseudonymous shopper with a Ledger {hardware} pockets whose display had died—advisors shipped a substitute Ledger and guided the consumer to interchange the display themselves. A case research is forthcoming.
Open-Supply and Self-Custody
With a lean workforce of about 35, Casa optimizes for longevity, open-sourcing software program merchandise selectively, like their current YubiKey integration. Their pockets, whereas not open-source, doesn’t are inclined to do transaction signing, since its consumer base primarily indicators transactions with {hardware} wallets which are usually already open-source. The Casa app primarily helps customers assemble the required key materials, and in response to Neuman, the Casa app’s behaviour will be verified and replicated by utilizing superior desktop wallets like Sparrow.
General, whereas some current developments seem to place self-custody on the again foot, the cypherpunk imaginative and prescient continues to maneuver ahead, seeking to deal with real-world consumer wants and threats, one step at a time. Quietly growing a brand new layer of property rights protection that the best company participant on the earth is now keenly conscious of.
