Trezor says about 10% of crypto users worldwide hold their own private keys

Hardware wallet maker Trezor said self-custody of Bitcoin is different from holding a claim on Bitcoin through a third party. In its view, users who keep assets on exchanges, with brokers, or in funds are relying on third-party ledger entries and withdrawal arrangements rather than directly controlling the asset themselves. The company also pointed to regulatory changes in Europe, saying that after the EU’s new crypto rules took full effect, some exchanges that did not secure licenses in time stopped offering regulated services to EU users. Trezor linked that point to its broader argument for self-custody. Trezor said founders Marek Palatinus and Pavol Rusnák launched the first hardware wallet 12 years ago to move private keys off internet-connected computers and onto a dedicated device. According to the company, private keys are generated on the device and never leave it, while transactions are signed inside the device before being sent. The firm added that out of roughly 600 million crypto users globally, about 10% hold their own private keys, and around 12 million to 13 million people use hardware wallets. Trezor Chief Commercial Officer Danny Sanders had also said earlier that if users put Bitcoin into an ETF and call that Bitcoin ownership, it would be a poor outcome for the industry.