Gemini Launches Crypto Fund Solutions Service
Posted by Colin Lambert. Last updated: March 7, 2021
Cryptocurrency exchange Gemini has rolled out Gemini Fund Solutions, what it claims is the first unified platform providing fund managers with custody, clearing, trade execution, and other capital markets services specifically designed for crypto ETFs, closed-end funds (CEFs), and other fund vehicles.
Gemini says the process for launching a crypto fund has been fragmented and disjointed, until now, but adds, “Our regulated and secure platform is custom-built for institutions seeking a swift go-to-market blueprint that allows fund managers to seamlessly offer crypto products to their clients while managing all of the underlying infrastructure in a single place.”
The new platform will support fund issuers through onboarding and implementation, as well as provide technical support. It already custodies and supports two bitcoin ETFs sponsored by Purpose Investments and Evolve Funds Group, which trade on the Toronto Stock Exchange and currently hold more than $500 million combined. In addition, its also provides custody and support for public and private bitcoin and ether funds including those managed by 3iQ, CI Global Asset Management, Galaxy, and Ninepoint Partners.
“Now more than ever, fund managers are searching for new ways to create exposure to the booming cryptocurrency industry and tap into the wave of investor interest,” the firms says in a blog post.