Quick answer: Managing wealth with digital assets means treating cryptocurrencies and tokenized assets as one part of a diversified portfolio, with the same discipline applied to any other holding: clear custody, documented tax treatment, deliberate position sizing, and a written reason for owning it. The technology is newer, but the questions are the familiar ones about safekeeping, liquidity, risk, and record keeping.
Watch Jake Claver’s full panel discussion on managing wealth with digital assets.
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By Jake Claver. Educational content, not investment advice.
This session, “Private Wealth Management of Digital Assets,” was recorded at the SALT Conference Wyoming Blockchain Symposium 2025. It features Jake Claver alongside Pascal St-Jean, President and CEO of 3iQ, and Curtis Schlaufman of DeFiTech Global, moderated by Emily Parker. The panel below is the source; the explainer that follows gives the background a viewer needs to follow it.
Custody: who actually holds the keys
The first practical question in digital asset wealth management is custody. Unlike a brokerage account, self-custodied crypto is controlled by whoever holds the private keys, which shifts responsibility for security onto the owner. Larger holders often use qualified custodians instead. In the United States, some national banks and trust companies can provide crypto custody under supervision from the Office of the Comptroller of the Currency, whose interpretive guidance has addressed banks holding crypto assets for customers. The choice between self-custody and a qualified custodian is a tradeoff between control and operational risk, and it deserves a deliberate decision rather than a default.
Tax treatment is not optional
In the United States, the IRS treats digital assets as property, so selling, spending, or exchanging them can trigger a taxable gain or loss, and holdings must be reported. The agency’s digital assets guidance lays out the reporting rules and the transactions that count as dispositions. For anyone holding meaningful amounts, keeping detailed cost-basis records from the start is far easier than reconstructing them later, and it is a common failure point for new holders.
Risk sizing and diversification
Digital assets are volatile relative to most traditional holdings, so position size is the main lever for controlling their impact on a portfolio. A disciplined approach starts from how much a household can lose without derailing its plan, then sizes the allocation to fit that tolerance rather than to chase an outcome. Diversification within the category matters too: a single token carries concentrated technology, regulatory, and liquidity risk that a broader mix can dampen. The regulatory backdrop is still developing, and the Commodity Futures Trading Commission’s digital assets resources are a useful reference for how U.S. authorities frame these markets.
Why this matters
Digital assets are increasingly showing up in the portfolios of individuals and family offices, but the failures tend to come from process, not price: lost keys, sloppy tax records, or position sizes too large to hold through a drawdown. Treating the asset class with the same rigor applied to any other holding is what turns a speculative bet into a managed allocation. The panel above is a conversation among practitioners about exactly those operational realities.
Common questions
What does it mean to manage wealth with digital assets?
It means holding cryptocurrencies or tokenized assets as a deliberate part of a diversified portfolio, with defined custody, documented tax treatment, and a position size matched to the household’s risk tolerance. It applies traditional portfolio discipline to a newer asset class.
How are digital assets taxed in the United States?
The IRS treats digital assets as property. Selling, exchanging, or spending them can create a taxable gain or loss, and holdings must be reported. Keeping accurate cost-basis records from the first purchase is essential.
Should digital assets be self-custodied or held with a custodian?
Both are used. Self-custody gives full control but puts all security responsibility on the owner. Qualified custodians reduce operational risk in exchange for counterparty reliance. The right choice depends on the size of the holding and the owner’s ability to manage key security.
How much of a portfolio should be in digital assets?
There is no universal figure. A disciplined approach sizes the allocation to what a household can afford to lose without derailing its financial plan, given the asset class’s volatility. This is a decision to discuss with a qualified professional, not a fixed percentage.
This content is educational only. It is not tax, legal, or investment advice. Check primary sources and speak with a qualified professional before making financial decisions.
Part of our guide: Digital Asset Custody.
