SEC publishes crypto wallet custody bulletin as DTCC secures approval to tokenize assets

On December 11, 2025, the SEC confirmed the release of an investor bulletin on crypto wallets and custody that outlines practices and risks for different storage methods. The bulletin compares hot and cold wallets, highlights issues like hacking and irreversible loss of access, and advises investors to review third‑party custodian policies. Around the same time, the DTCC received a no‑action letter from the SEC allowing a new service to tokenize stocks, ETFs, and U.S. government securities.