BTG Pactual’s new Bitcoin fund teams up with Gemini for custody

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.

what is a gemini custody account,gemini exchange,gemini team,gemini custody pricing,btc custody,custodial crypto account,Privacy settings,How Search works,gemini crypto assets,gemini free bitcoin

You May Also Like

We asked for your craziest crypto story. These are the winners

In all supported Windows versions it is possible to run applications on behalf…

Hedge Fund Manager Says Sell-off in US Treasury Bonds a Threat to ‘High-Flying Assets’ Like BTC

Hedge fund manager Bob Prince warned that the recent selloff in the…

3 reasons why BTC will unlikely trade below $50,000 in the near term

Bitcoin (BTC) appears on the 25th. Marching power exceeds $50,000. The 10%…

Reddit reminisces defunct ‘Bitcoin faucet’ website that gave away 19,700 BTC for free

On Sunday, the R/cryptocurrency community on Reddit revived an interesting bit of…