Citadel-Backed EDX Markets Seeks U.S. Trust Charter for Institutional Custody
EDX Markets — a venue supported by Citadel — has filed for a U.S. trust charter as it looks to expand into custody and other asset services for institutional clients. The move, disclosed this week, is framed as a direct response to growing demand from hedge funds, asset managers, and other professional investors seeking regulated custody solutions and clearer legal protections for digital assets.
If approved, a trust charter would give EDX a formally regulated framework for holding client assets and carrying out fiduciary duties, improving its appeal to risk-sensitive institutions. Backing from Citadel brings capital and market expertise that could accelerate EDX’s market entry, intensifying competition with incumbent custodians and exchanges. The application also signals continued institutionalization of crypto, though final approval will hinge on regulatory review and operational readiness.