Crypto exchange Gemini has acquired a digital asset portfolio management platform called BITRIA for an undisclosed sum.
Founded in 2017, BITRIA offers tools to enable advisors manage crypto holdings.
The move will see the integration of BITRIA’s platform with Gemini’s custody and exchange capabilities. This will enable the advisors to access the entire crypto ecosystem and manage clients’ portfolios from a single platform.
Overall, the wealth managers will get access to 70 cryptocurrencies. They will also gain access to features such as SMA construction and maintenance, portfolio rebalancing, tax loss harvesting and account planning among others.
Gemini global head of business development Dave Abner said: “The BITRIA acquisition positions Gemini as the first end-to-end technology platform empowering wealth and asset managers to meet rising demand among their clients for accessing and managing a full range of crypto investments.
“Many advisors currently have limited access to just one or two tokens through closed-end funds and spot crypto ETFs in jurisdictions where they are available. Today we are unlocking access to the full digital asset ecosystem for the wealth management community.”
BITRIA co-founder and CEO Daniel Eyre said: “The future of wealth management lies in digital assets and blockchain technology and the integration of BITRIA’s technology with Gemini provides a bridge to that future.
“Gemini’s leading crypto-native custodian capabilities provide an incredible platform for our existing and future customers to innovate at the speed of the crypto ecosystem.”