- The partnership between Gemini and Betterment will enable the company to offer cryptocurrency custody services to digital investment advisors.
- Betterment has over 730,000 customers across its business, giving you exposure to crypto asset classes.
- Despite the crypto winter, institutional interest in crypto remains.
Gemini, one of the leading cryptocurrency exchange and custody providers, has partnered with digital investment advisor Betterment to aim to offer investors a diversified cryptocurrency investment portfolio.
a press release According to Gemini on Tuesday, the new offering will appeal to Betterment retail investors as well as Advisor improvements client.
This partnership means that Betterment’s upcoming cryptocurrency products will offer customers the opportunity to invest in Gemini’s cryptocurrency portfolio designed around digital assets. Meanwhile, the exchange will act as Betterment’s crypto custodian, opening up crypto adoption to more investors across the financial advisor market.
Notably, the partnership could open up the crypto investment space to Betterment’s over 730,000 customers. As noted in Gemini’s blog announcement, these clients have the opportunity to diversify their long-term investments through exposure to the increasingly popular crypto asset class.
Betterment will launch an expertly-built digital asset portfolio next month that customers will be able to access through their accounts.
Additionally, Betterment for Advisors partners will have the opportunity to leverage cryptocurrency products to provide their clients with crypto exposure.
Institutional investors remain enthusiastic about cryptocurrencies
Gemini’s partnership with Betterment comes amid growing interest from major Wall Street firms to offer cryptocurrency products to their clients.
In April of this year, Fidelity Investments announced that US customers would add Bitcoin to their 401(k) accounts. A few months later (August), BlackRock partnered with his Coinbase to offer cryptocurrency trading to its customers.
Fidelity, Charles Schwab and Citadel Securities have also recently launched a crypto exchange called EDX Markets, in partnership with other top Wall Street firms.
These developments continue despite the crypto winter, highlighting growing interest in the crypto asset class.