Gemini has just released its “Gemini Fund Solutions”, which will provide all the underlying infrastructure for fund managers seeking to get crypto exposure for their client portfolios.
With Bitcoin and Cryptocurrency hitting the news over the past several months many fund managers are keen to start buying selected cryptos on behalf of their clients. However, the infrastructure behind these services is “fragmented”.
The Gemini platform is the trusted and regulated one-stop shop which can now provide crypto products, while at the same time taking care of all the associated infrastructure. According to Dave Abner, Global Head of Business at Gemini:
"There are a multitude of crypto funds coming to the global markets by a variety of methods, massively expanding the number of institutions bringing crypto products to their investors," And "Gemini is in a unique position to leverage its knowledge across the funds and the crypto space, to usher investors directly onto the Gemini Exchange, or drive the underlying infrastructure asset managers need to bring even the most complex products to market. Offering them an all-in-one solution is a way to help issuers to support this rapidly-growing trend."
Two fund issuers, Purpose Investments and Evolve Funds Group, have existing bitcoin ETFs worth more than $500 million combined. Both have already contracted Gemini Fund Solutions in order to access their crypto services.
3iQ, CI Global Asset Management, Galaxy, and Ninepoint Partners, are also using the Gemini Fund Solution for securely holding their crypto assets. These clients hold $2 billion in Bitcoin and Ether between them.
Som Seif, founder and CEO of Purpose Investments stated:
"The services and, more importantly, the expertise provided by Gemini have been crucial to the launch and success of the Purpose Bitcoin ETF,” And "Bringing the world's first Bitcoin ETF to market came with a whole host of new challenges, given the asset's relatively young age, particularly in the investments industry. Gemini helped make our vision a reality and allowed us to innovate and truly democratize access to cryptocurrency."
Gemini is the only exchange and custodian to have undergone SOC 1 Type 2 & SOC 2 Type 2 examinations, which are the highest financial and security compliance standards.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.