Cryptocurrency exchange and custodian Gemini is now offering trading and storing services to registered investment advisors (RIAs).
To that end, Gemini has partnered with Blockchange, a San Francisco-based crypto investing platform for professional wealth managers. The Blockchange-Gemini solution will allow RIAs to manage crypto assets within their client portfolios.
Quantum Capital Management, a wealth management firm with more than $125 million assets under management, is the first client of Gemini and Blockchange.
Howard Aschwald, CIO of Quantum, said: “The risk-adjusted returns and growth potential of digital assets are too significant to ignore, and we consider a small allocation important to fulfill our fiduciary responsibility to clients.”
Aschwald went on to say that Quantum reviewed several options including investment trusts, index funds, and hedge funds, but chose the Blockchange-Gemini solution because it is flexible and customized. “It allows us to implement, at scale, our Digital Asset Management Strategy improving liquidity and control over risk management."