Gemini, founded by Tyler and Cameron Winklevoss in the United States, has announced that it will provide custody services for a future Bitcoin fund of major Brazilian investment bank BTG Pactual.
In its April 5 announcement, it states that its subsidiaries Gemini Custody and Gemini Fund Solutions will provide customized services to the fund. This article also refers to the philosophical orientation of the two companies.
The BTG Pactual Bitcoin 20 Multi-Market Investment Fund, which was approved last month, was the first fund launched by a Brazilian investment bank to offer BTC when it launched on the 5th. April launched.
The fund invests 20% of its assets under management (AUM) in bitcoin, with Gemini responsible for keeping the coins safe. The fund also invests 55% of its assets under management in treasury bills, 20% in bank bills and 5% in repurchase agreements.
All BTG Pactual customers can participate in the fund, with a minimum investment of one Brazilian real (approximately $0.18) and an annual management fee of 0.5%.
According to a rough translation, Will Landers of BTG Pactual Asset Management emphasized the bank’s desire to democratize bitcoin investing with an affordable product for investors.
BTG Pactual has been touting the benefits of digital assets lately, and the bank’s managing partner Marcelo Flora said the bank started preparing an educational video on bitcoin and cryptocurrencies last month.
In three episodes, we cover the history of bitcoin, institutional adoption, how to invest, how blockchain works and what stage of the technology adoption curve it is currently at, Flora wrote on LinkedIn.
BTG Pactual has long been committed to innovation in the cryptocurrency sector. In 2019, the company introduced real estate-based security tokens.
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