Billing and fees

Plan your billing and fee strategy before onboarding clients. Fees are configured per account and billed either automatically each cycle or manually through the API.

How it works

Configure fees at account creation

Set the billing method (automated or manual) and fee rates when you create an account, or leave them to configure later.

Fees accrue daily

Each fee accrues daily based on average assets under custody (AUC). The current accrual is visible on the account via accruedFees.

Fees post monthly

On the 1st of the month, the prior period’s fees post to the ledger as a pending transaction.

Billing finalizes

After a dispute period, fees are finalized and withdrawn on the 10th business day.

You can also submit or cancel charges outside the automated cycle — see Submit a manual billing charge below.

Billing methods

Method	Description
Automated billing	Fees configured at account creation. Billed automatically each cycle.
Manual billing	Submitted by the wealth manager via the manual billing API endpoint before the 10th business day.

Fee model

Model	Description
Bundled	Single “management fee” line item on the program customer’s statement. Anchorage Digital’s custody fee is deducted from the overall fee charged to the wealth manager.
Fully disclosed (unbundled)	Each fee type (custody, management, advisory, model) appears as a separate line item on the program customer’s statement.

Fee types

Fee type	Details
`CUSTODY_FEE`	Configured by Anchorage Digital during wealth manager onboarding. Rate may change based on total AUC per agreed commercial terms. Not configurable via API. Calculated from end-of-day USD value averaged over the fee period.
`MANAGEMENT_FEE`	Fee charged by the wealth manager for managing client assets (typically 1–2% of AUM with minimums).
`ADVISORY_FEE`	Configured via API at account creation. Used for third-party wealth manager fees; otherwise set to `0`.
`MODEL_FEE`	Configured via API at account creation. Used for model fees.

Fee visibility — `isBillable`

Value	Behavior
`isBillable: true`	Fee accrues daily AND is billed to the end-client account monthly. Shows as a separate line item on statements. Fees appear on the 1st of the month. Custody fee defaults to `true` for unbundled billing models.
`isBillable: false`	Fee accrues daily but is NOT billed to the account monthly. Does not appear on statements. Accrued balances are available via API. Useful for tracking internal fee distributions from a single management fee remittance.

Fee accruals

Each account includes an accruedFees section showing estimated fees based on average AUC — not actual point-in-time fees.

accruedValue represents the average fee accrued based on days elapsed and average AUC. It is not the actual fees charged based on prior day accruals, and should not be used to display mid-month “performance net of fees” estimates.

Key fields in accruedFees:

Field	Description
`startPeriod`	Billing month start date.
`endPeriod`	Billing month end date.
`accruedValue`	Accrued fee value to date for the billing period.
`rate`	Fee rate as a decimal (e.g., `0.01` = 1%).
`type`	Fee type corresponding to the `accruedFee` object.
`totalBalanceInUSD`	Most recent AUC balance in USD used to calculate accrued fees.
`state`	`ONGOING` — still accruing. `DONE` — billing period closed.

Example account with fee accruals

{
  "createdAt": "2025-02-01T19:11:06.390Z",
  "customerId": "9bcbbb3136356ff85670085f64cfb4f53419a94277261be0094c4d97de71a4yb",
  "externalSubaccountId": "1A-13579-Doe",
  "fees": [
    { "isBillable": true, "rate": 0, "startDate": "2024-08-02", "type": "ADVISORY" },
    { "isBillable": false, "rate": 0.0025, "startDate": "2024-11-20", "type": "CUSTODY" },
    { "isBillable": true, "rate": 0, "startDate": "2024-08-02", "type": "MANAGEMENT" },
    { "isBillable": true, "rate": 0, "startDate": "2024-08-02", "type": "MODEL" }
  ],
  "name": "1A-13579-Doe",
  "subaccountId": "99fc9d84-4843-4a2c-95cc-1d90385c7955",
  "accruedFees": [
    {
      "accruedValue": "2982.05",
      "endPeriod": "2025-01-31",
      "rate": 0.351,
      "startPeriod": "2025-01-01",
      "state": "DONE",
      "totalBalanceInUSD": "100032.1",
      "type": "CUSTODY"
    },
    {
      "accruedValue": "1731.5",
      "endPeriod": "2025-02-18",
      "rate": 0.351,
      "startPeriod": "2025-02-01",
      "state": "ONGOING",
      "totalBalanceInUSD": "100031.22",
      "type": "ADVISORY"
    }
  ],
  "balances": [
    { "assetType": "BTC", "availableForTrading": "0.00018915", "availableForWithdrawal": "0.00018915", "totalBalance": "0.00032102" },
    { "assetType": "ETH", "availableForTrading": "0.19400093", "availableForWithdrawal": "0", "totalBalance": "0" },
    { "assetType": "USD", "availableForTrading": "87676.46", "availableForWithdrawal": "87676.46", "totalBalance": "100000" }
  ]
}

accruedValue = (AvgAUC × feeRate) × (numberOfDays / 365)Avg AUC is calculated from totalBalance. This is an estimate — do not use to calculate performance net of fees.

Billing lifecycle

Month 1, day 1 — Billing period starts. accruedFee begins calculating end of day. state: ONGOING.
Month 1, days 2–30 — accruedFee reflects daily accrual from day 2.
Month 1, last day — Billing period closes. state: DONE.
Month 2, day 1 — Fee transaction appears on the ledger at 8:00 AM ET as PENDING.
Month 2, days 2–9th business day — Billing dispute period. Contact your account point of contact with any questions.
Month 2, 10th business day — Billing finalized. Account transaction updates to POSTED. Fees withdrawn; wealth manager remittance begins. Updates at 8:00 AM ET.

Pro-rated fees apply to accounts with mid-month start dates.

Additional billing considerations

Manual billing must be submitted via API before the 10th business day.
Cash management — Keep 3 months of USD in the account to avoid liquidation events that trigger taxable events.
0-rate fees — No accrual or transaction posted if rate is 0.
Negative USD balances — If USD balance goes negative mid-month, it must be offset before the 10th business day.
Rate changes — Anchorage Digital emails end clients when fees with isBillable: true are created or changed.
Fee rate format — Configure as a decimal: 1% = 0.01.

Integration steps

Use manual billing when the wealth manager — not Anchorage Digital’s AUC-based accrual — determines what to charge each end client. This applies to ADVISORY, MODEL, and MANAGEMENT fees only. Custody fees are set by Anchorage Digital and are never charged manually.

Step 1: Submit a manual billing charge

POST /v2/subaccounts/billing/charges

Field	Description	Required	Type
`idempotentId`	Unique ID to prevent duplicate submissions	Yes	String
`feeType`	Fee type for this batch	Yes	Enum: `ADVISORY`, `MODEL`, `MANAGEMENT`
`interval`	Billing period this charge covers	Yes	Object with `startDate` and `endDate`
`charges`	Charges to create, up to 100 per request	Yes	Array
`charges/subaccountId`	Account to charge	Yes	String
`charges/amount`	Amount to charge, in USD	Yes	String

Each request applies a single feeType and interval across all charges in the batch — submit separate requests to bill different fee types or periods in the same call.

curl --request POST \
     --url https://api.anchorage-staging.com/v2/subaccounts/billing/charges \
     --header 'Api-Access-Key: {API Key}' \
     --header 'accept: application/json' \
     --header 'content-type: application/json' \
     --data '{
  "idempotentId": "b6e1a9b2-5b64-4e6e-9b7a-6b6b6b6b6b6b",
  "feeType": "MANAGEMENT",
  "interval": {
    "startDate": "2025-02-01",
    "endDate": "2025-02-28"
  },
  "charges": [
    { "subaccountId": "cb80459c-a930-444e-8f17-69ba9d0e122f", "amount": "1000.00" }
  ]
}'

{
  "data": {
    "ids": ["9f4b2b3a-1c2d-4e5f-8a9b-0c1d2e3f4a5b"]
  }
}

Manual charges debit the account immediately and appear on the statement dated the day the charge is submitted — they don’t wait for the standard month-end billing cycle. A charge can only be canceled before it’s finalized.

Step 2: Cancel a charge (before it’s finalized)

DELETE /v2/subaccounts/billing/charges/{chargeId} Use the ID returned in Step 1.

curl --request DELETE \
     --url https://api.anchorage-staging.com/v2/subaccounts/billing/charges/9f4b2b3a-1c2d-4e5f-8a9b-0c1d2e3f4a5b \
     --header 'Api-Access-Key: {API Key}' \
     --header 'accept: application/json'

{
  "data": {
    "success": true
  }
}

Step 3: Update fee rates or billing dates

PATCH /v2/subaccounts/accounts/{subaccountId}

Updates trigger email notifications to end clients and the wealth manager (including sandbox).
Updated rates apply from the startDate specified.
Mid-cycle updates retroactively apply to the current billing period.
End-of-month billing uses the latest rate set for that month.

curl --request PATCH \
     --url https://api.anchorage-staging.com/v2/subaccounts/accounts/cb80459c-a930-444e-8f17-69ba9d0e122f \
     --header 'Api-Access-Key: [API Key]' \
     --header 'accept: application/json' \
     --header 'content-type: application/json' \
     --data '{
  "fees": [
    { "type": "ADVISORY", "rate": 0.01, "startDate": "2025-02-20" }
  ]
}'

{
  "data": {
    "subaccountId": "cb80459c-a930-444e-8f17-69ba9d0e122f"
  }
}

Platform

Solutions

How it works

Billing methods

Fee model

Fee types

Fee visibility — `isBillable`

Fee accruals

Billing lifecycle

Additional billing considerations

Integration steps

Step 1: Submit a manual billing charge

Step 2: Cancel a charge (before it’s finalized)

Step 3: Update fee rates or billing dates

​How it works

​Billing methods

​Fee model

​Fee types

​Fee visibility — isBillable

​Fee accruals

​Billing lifecycle

​Additional billing considerations

​Integration steps

​Step 1: Submit a manual billing charge

​Step 2: Cancel a charge (before it’s finalized)

​Step 3: Update fee rates or billing dates

How it works

Billing methods

Fee model

Fee types

Fee visibility — `isBillable`

Fee accruals

Billing lifecycle

Additional billing considerations

Integration steps

Step 1: Submit a manual billing charge

Step 2: Cancel a charge (before it’s finalized)

Step 3: Update fee rates or billing dates