Curious what Coinbase's custody solution actually entails?

In a recent interview with hedge fund manager, he revealed what the Coinbase custody solution entails for asset managers.

He revealed that Coinbase charges $100k to setup the custody service.

Then they also charge 10 basis points per month in order to store the coins.

There must be a minimum balance of $10 million.

The funds are held in cold storage and require several security protocols in order to be accessed.

It takes 2 days before the funds can be moved once the process is started for security purposes.

This isn't perfect, but it is a step in the right direction in terms of getting investors to trust the space.

Here is what the hedge fund manager told Bloomberg is coming: 

 “There are a lot of investors where custodianship was the final barrier. Over the next year, the market will come to recognize that custodianship is a solved problem. This will unlock a big wave of capital.”

(Source: https://www.ccn.com/regulated-cryptocurrency-custody-will-bring-in-big-money-hedge-fund-manager/)