Gemini, a crypto exchange and custodian, has launched a new global offering called Gemini Fund Solutions to provide fund managers with custody, clearing, trade execution services.
The new crypto fund offering will also provide capital markets services tailored to exchange-traded funds (ETFs), closed-end funds, and other fund vehicles.
Crypto funds have become an increasingly attractive option for fund managers looking to add crypto exposure to their clients' portfolios.
Gemini explains that its regulated and secure platform is custom-built for institutions, providing fund managers with the ability to offer crypto products to their clients while managing all of the underlying infrastructures in a single place.
"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," says Dave Abner, global head of business at Gemini.
Abner adds: "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."
Purpose Investments and Evolve Funds Group, fund issuers that launched bitcoin ETFs, have already engaged Gemini Fund Solutions to access its crypto services for their clients.
"The services and, more importantly, the expertise provided by Gemini have been crucial to the launch and success of the Purpose Bitcoin ETF," says Som Seif, founder and CEO of Purpose Investments.
Seif concludes: "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 democratise access to cryptocurrency."
