AnchorWatch launches bitcoin custody with up to $370M insurance per client

The headline number is capacity, not protection: the $370 million ceiling is optional coverage with a capped monthly fee, so the real test is how much coverage clients actually elect and at what underwriting terms. The Nevada charter matters because it puts a regulated trust wrapper around bitcoin custody, a segment where institutional holders have had few insured options and where counterparty risk has driven allocation decisions. The open question is whether the insurance is backed by a carrier with the balance sheet to honor claims in a stress event, and whether the capped fee structure proves sustainable once claims experience accumulates.