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Please enjoy this #crypto content, Gemini and Betterment partner to offer crypto portfolios Originally reported on coinjournal.net by Benson Toti
- Gemini partnership with Betterment will allow the company to provide crypto custody services to the digital investment advisor.
- Betterment has over 730,000 customers across its business who could gain exposure to the crypto asset class.
- Institutional interest in crypto remains despite crypto winter.
Gemini, one of the leading crypto exchange and custody providers in the industry, has struck a partnership with digital investment advisor Betterment in a deal that is set to bring diversified crypto investment portfolios to investors.
A press release by Gemini on Tuesday stated that the new offering will be available to Betterment’s retail investors as well as Betterment for Advisors customers.
The partnership means Betterment’s upcoming crypto product will offer customers an investment opportunity in crypto portfolios designed around digital assets on Gemini. The exchange, on the other hand, will act as a crypto custodian for Betterment, opening crypto adoption to more thousands of investors across the financial advisor’s market.
Notably, the partnership is likely to open up the crypto investing space for over 730,000 of Betterment’s customers. As noted in Gemini’s blog announcement, these customers now have a chance to diversify their long term investments via exposure to the increasingly popular crypto asset class.
Betterment will begin to offer expert-built digital assets portfolios next month, which its customers will be able to access via their accounts.
Additionally, partners of Betterment for Advisors will have an opportunity to leverage the crypto product to provide exposure to crypto to their own clients.
Institutional investors continue to warm up to crypto
Gemini’s partnership with Betterment comes amid increased interest from leading Wall Street companies in offering crypto products to their clients.
In April this year, Fidelity Investments announced its clients in the US would add Bitcoin to their 401(k) accounts. A few months later, (in August) BlackRock partnered Coinbase to offer crypto trading to its customers.
Fidelity, Charles Schwab and Citadel Securities also recently joined up with other top Wall Street firms to launch a crypto exchange dubbed EDX Markets.
These developments have continued despite the crypto winter, highlighting the growing interest in the crypto asset class.
‘News of the Day’ content, as reported by public domain newswires.
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