Bitcoin for Family Offices in Canada: A Practical Guide | The Coin Shack
Bitcoin for family offices in Canada
More Canadian family offices are adding a small Bitcoin allocation, usually alongside their advisors. The questions are rarely about price. They are about custody, governance and reporting. This guide covers the practical side.
TL;DR
- Decide custody first: who holds the keys. Many families choose multi-signature.
- Write down who can approve buys and withdrawals, and plan who takes over if a key holder is gone.
- Record every purchase (date, amount, price, fees) and involve your tax advisor before the first trade.
- Trade large amounts quietly through an OTC Desk with one senior contact.
Custody comes first
The biggest decision is who holds the keys. Options range from a regulated custodian to the family holding its own keys with a multi-signature setup, where several people must approve any movement. Many families choose multi-signature so no single person, device or company is a point of failure.
Governance
- Decide who can approve purchases and withdrawals, and write it down.
- Keep backup materials in separate secure locations.
- Plan for succession: who takes over if a key holder is no longer available. See our guide on Bitcoin and your estate.
Reporting and tax
Keep a record of every purchase: date, amount, price and fees. Your accountant will need this for cost base and reporting. Tax treatment depends on the family's structure and activity, so involve your tax advisor before the first trade.
Trading discreetly
Large orders on public exchanges can move the market and leave a visible trail of many smaller trades. Our OTC Desk quotes a single price, settles directly, and gives the family one senior contact who knows the account.
Questions
Do you work with advisors and lawyers?
Yes. We are happy to join a call with the family's advisor, accountant or lawyer.
Can you help set up multi-signature custody?
We can walk you through hardware wallets and multi-signature setups so the family controls its own keys.
Do you hold client Bitcoin?
No. Bitcoin goes straight to wallets the family controls.
