Gemini has doubled the value of cryptocurrencies under custody in just a few months, which have now reached $25 billion.
The exchange confirmed this in a blog post.
“Tracking with the impressive growth of the crypto market this year and increased participation from institutional investors, we have more than doubled our crypto under custody since the beginning of 2021”.
Gemini’s crypto custody service is in a period of expansion. Indeed, in targeting institutional clients as well, the exchange of the Winklevoss brothers has launched Gemini Fund Solutions, a platform aimed at managers of large funds with custody solutions, clearing, trade execution and other capital markets services specifically designed for crypto funds
The Gemini team explains:
“Gemini Fund Solutions supports more crypto fund issuers than any firm in the world, and has assisted asset managers in successfully launching several exchange-listed crypto funds, including the first North American bitcoin and ether ETFs”.
The reference is to Purpose Bitcoin ETF, the first ETF on bitcoin launched in Canada.
But Gemini’s clients also include:
- BlockFi,
- Blockchange CoinList,
- CI Global Asset Management,
- DAiM,
- BTG Pactual,
- Caruso,
- Eaglebrook Advisors,
- WealthSimple.
With CiGlobalAsset, Purpose Investments and Evolve ETFs, Gemini has partnered to launch Ethereum-based ETFs on the Toronto Stock Exchange.
The crypto services offered by Gemini
This popularity is due to the wide range of services offered, which are not only licensed by the New York State Department of Financial Services but also comply with SOC 1 and SOC 2 standards.
Remarkably, Gemini has seen its crypto assets in custody grow by $5 billion in the space of a month. On March 19th, Gemini announced that it had reached $20 billion in crypto assets under custody.
For Tyler Winklevoss, Gemini’s run is practically just beginning:
.@Gemini now has over $25 billion in crypto under custody. To the moon! 👍🚀 https://t.co/SQahRISOsH
— Tyler Winklevoss (@tyler) April 20, 2021
