Gemini, a crypto exchange and custodian, has launched a new global offering – Gemini Fund Solutions – to provide fund managers with custody, clearing, trade execution, and other capital markets services tailored to ETFs, closed-end funds, and other fund vehicles.
As interest in cryptocurrency skyrockets, crypto funds have become an increasingly attractive option for fund managers looking to add crypto exposure to their clients’ portfolios. But to date, the market for providing these services to fund issuers has been fragmented.
Gemini’s regulated and secure platform is custom-built for institutions, providing fund managers the ability to seamlessly offer crypto products to their clients while managing all of the underlying infrastructure 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. “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.”
Gemini Fund Solutions will support fund issuers every step of the way throughout onboarding and implementation and provide technical support and ongoing operational expertise to help ensure that Gemini Fund Solutions is seamlessly integrated into their systems and workflow. Gemini will also continue to provide education around the crypto marketplace to institutions considering investment, while also acting as a centralised hub for crypto liquidity providers, helping to grow the overall ecosystem.
Purpose Investments and Evolve Funds Group, fund issuers that launched bitcoin ETFs worth more than USD500 million dollars combined, have already engaged Gemini Fund Solutions to access its unified crypto services for their clients. Gemini Fund Solutions also securely holds and protects crypto assets for 3iQ, CI Global Asset Management, Galaxy, and Ninepoint Partners, who cumulatively manage approximately USD2 billion in bitcoin and ether.
“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. “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.”
Gemini Fund Solutions is backed by the industry’s highest financial and security compliance standards. Gemini is the only exchange and custodian in the world to have completed SOC 1 Type 2 & SOC 2 Type 2 examinations, which were certified by Deloitte, a fundamental requirement for safely managing products for investors.