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This is really great question. It is a hindrance to institutional adoption. I think they will have to work with outside firms with multi-sigs and time locks. We're not fully there yet.
BTW - we use Unchained right now and for a firm of our size it works. If I were back at Gateway (multi-billion dollar public firm), it would be much more complicated. I think many will punt and ask Morgan Stanley or Blackrock types to handle it for them. I know that it isn't a great answer but I think they'll go that route at least initially.
I worked with Liana Wallet for a while, and one of things that stood out was that often corporations were really not interested in holding their own keys, and when they were (often because of one key person's interest) it was a pretty shaky setup (like a singlesig with no real recovery plan).
The collaborative custody places are great and all, but I think many people don't see a large difference between collaborative custody and fully relying on a custodian. Indeed, I think corporations often perceive custody as a better solution than holding their own keys.
What would be the most useful/helpful bitcoin wallet tool for institutions?
eg. better key management so company officers could rotate multisig keys or easier colt storage practices or insurance on bitcoin holdings